thefirstleathergoodsintheworld
HomeAbout UsProductsInquiryVideoFAQsNewsContact Us
Browse CategoriesLEATHER\PU BAG18PU men handbag0PU woman bag2Men genuine leather bag1Woman genuine leather handbag15WALLETS302Men genuine leather wallet71Woman genuine leather wallet231CARD HOLDER21Card holder16COSMETIC BAG17ACCESSORIES110Credit card holders31Key holders19Ipad holders5Passport Cover5Cosmetic bag0Coin purse39Others9Note book Cover\holder1Phone Case\Cover1
Best selling products
Subscribe
Get email updates on new products
Contact usHotline: Email: Address:Rm#building#1,fanhai international Soho Town,Huaihai road,Jianghan district,,china .Contact Now
Home News Social News Chinese bike-sharing start-up .....
News
Chinese bike-sharing start-up ofo raises $700M
Author:CaraSource:Release on:2017-07-20 Chinese bike-rental start-upOfo Inc.raised more than $700 million in its latest funding round to expand its business globally amid rising domestic competition withBeijing Mobike Technology Co.and more than a dozen rivals.
The series E round is led by billionaire Jack Ma’sAlibaba Group Holding Ltd., Hony Capital and Citic Private Equity, according to an emailed statement sent by Ofo. The company’s earlier investors, car hailing platformDidi Chuxingand DST Global, also took part in the financing. The company declined to comment on valuation.
The round is the largest known financing by a bike-sharing company, overtaking a$600 million round by Mobike last month. The company had been seeking a valuation of about $3 billion in its latest funding round, people familiar with the matter havesaid.
Ofo is targeting an expansion to 20 million bikes in 20 countries by the end of this year. The three-year-old company said it already has 6.5 million bikes in 150 cities.
“We will further upgrade our service for better user experience,” Chief Executive Officer Dai Wei said in the statement.
Before the current round, Beijing-based Ofo hadamassedat least $650 million in funding and obtained an estimated valuation of about $2 billion. Besides Didi and DST Global, notable investors of Ofo include Ant Financial and GSR.
China’s fledgling bike-sharing companies are raising cash at an unprecedented pace, underscoring growing investor interest in ride-sharing beyond an automobile market dominated by Didi.
Mobile is backed by Tencent Holdings Ltd, Sequoia Capital, Hillhouse Capital and Warburg Pincus.
Genuine leathergoods Bangladesh supplier
Learn about the latest developments in the company's products
About UsProductsNewsSite mapContact UsQuality ControlFactory Tour
BACK TO TOP