xi's moments

Ofo raises $866m in financing led by Alibaba

By Zhu Lingqing | chinadaily.com.cn | Updated: 2018-03-13 09:48

A group of bikers riding ofo bicycles pass by Chang'an Avenue, Beijing, on Mar 10, 2017. [Photo/China Daily]

Chinese bike-sharing company Ofo Inc announced on Tuesday it finished its series E2-1 round of financing led by e-commerce giant Alibaba Group Holding Ltd, raising a record $866 million, the highest single round of financing in the bike-sharing sector, according to Xinhua.

Haofeng Group, Tianhe Capital, Alibaba's Ant Financial and Junli Capital participated in the investment.

Both the equity and credit investments were involved in this round of funding. After this round of financing, Alibaba will join the board of Ofo.

Copyright 1995 - 2018 . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349