© Reuters. Alibaba participates in $866M round for bike-sharing company
- Alibaba (NYSE:) leads a $866M investment round in Chinese bike-sharing company Ofo.
- Other participants: Alibaba’s payment arm Ant Financial, Haofeng Group, Tianhe Capital, and Junli Capital.
- The last time Ofo discussed valuation was before a funding round last July when the value was given at above $2B. The current round brings total funding up to $2.2B.
- Ofo has about 200M users globally with a presence in 250 cities in 21 countries.
- Ofo competes locally with Tencent-backed Mobike, which has raised a total of $928M.
- Alibaba shares are down 2.2% to $188.49.
- Previously: Bloomberg: Ant Financial reaches $95B in consumer lending (March 12)
- Now read: Forget Amazon (NASDAQ:): Alibaba Is The Horse To Bet On In This Race