Posted inBeijingChinaGuangzhouShanghai

Ofo back on track with Alibaba bike-share deal

One of China’s major bicycle sharing companies, Ofo, has received 1.77 billion yuan (US$280 million) in financing from Alibaba, by pledging its assets of sharing bikes twice, The Paper reported. In early February, the company pledged a total of 4,447,572 bikes in Beijing, Shenzhen, Shanghai and Guangzhou to Shanghai Yunxin Venture Capital Co. Ltd. for […]