BEIJING, Jan.16 (Xinhua)-- China’s bike-share company Ofo is seeking a new-round of financing led by Alibaba, Securities Daily quoted an insider of Ofo as saying on Monday.
A media report said last week that Ofo is strapped for cash and might sustain itself for only one month. Then Ofo released a statement and said that it would sue the media outlet.
Now the sharing bike market is gradually cooling. Merger & reorganization has become a general trend. In this context, ofo's new-round financing has a direct bearing on its future development. Ofo's competition with Mobike and Didi must be fierce.
(Edited by Yang Yifan, yangyifan@xihua.org)
A single purchase
