Chinese bike-sharing firm Ofo raises $866 mn led by Alibaba
Chinese bike-sharing firm Ofo has raised $866 million in a funding round led by China's e-commerce giant Alibaba. Alibaba's payments affiliate Ant Financial, and venture capital firms Haofeng Group, Tianhe Capital and Junli Capital participated in the round, the company said in a statement. Founded in 2014, Ofo offers a 'station-free' bike-sharing platform operated via an app.