Alibaba leads $866m round for China's Ofo
Chinese bike-sharing start-up Ofo has raised $866 million in a new funding round – comprising equity and debt – led by existing investor Alibaba Group. It is said to be the largest round raised by a bike-sharing company to date.
Other investors in the round include Alibaba’s financial services affiliate Ant Financial, Haofeng Group, Tianhe Capital, and Junli Capital. Alibaba also led Ofo’s $700 million Series E round in July...
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