Analysts say Alibaba is considering investing in Hellobike to further support its own parcel and food delivery businesses.
Tag: bikesharing
Hellobike now operates in more than 360 Chinese cities and supports more than 20 million daily trips.
Bringing you the latest financing highlights in the tech sector in China.
Yang Lei, CEO of Hellobike, will continue his post at the new company.
Hellobike receives its Series B round fund to compete in China’s thriving bike-sharing battle.
The app has attracted 6.25 million users in four months.
Ofo became the fourth Chinese internet platform to see 10 million daily transactions, after Taobao, Didi Chuxing, and Meituan.
A deal between Ant Financial and ofo will mean deposit waivers for those with a high enough Sesame Credit score.
Shanghai authorities are to demand GPS embedded in bikes, mandating quality to last for three years of use and more.
The company is confronting some of its previous problems with a newly designed bike.