Minority shareholders have reportedly begun receiving documents about the deal.
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Posted inHeavy Hitters
Ofo said to complete a new round of financing led by Didi and Ant Financial
The news of ofo’s E2-2 round comes amid rumors of acquisition by Didi Chuxing.
Posted inNews
Updated: Alibaba rumored to deepen involvement in bike-rentals with upcoming $1 bln Hellobike investment round
Updated 23 Jan 2017: TechNode Chinese has reached out to Hellobike, Fosun Capital and Hellobike’s early-stage investor GGV, but neither has confirmed the news. Chinese bike rental firm Hellobike (哈罗单车) is going to complete $1 billion worth of round from Ant Financial (an affiliate company of Alibaba Group), Fosun Capital, and some other existing investors, people familiar […]
Posted inOn the Cusp
Ofo moves its Beijing headquarters in midst of cash crunch
Ofo’s headquarters have shifted as it faces a reported cash crunch.
Posted inNews
4 take aways from 34 new Chinese unicorns in 2017: IT Juzi report
A “unicorn” refers to those companies less than 10 years old and valued at $1 billion or more. There were 34 Chinese new unicorn companies in 2017 that match these conditions, according to a new report released by Chinese startup database IT Juzi (IT桔子). In the first half of 2017, rental economy startups gained prominence […]
Posted inTurf Wars
Some ofo users can’t unlock bikes from Didi app
Amid rumors of ofo’s acquisition by Didi Chuxing, users are encountering errors when attempting to rent the former’s bicycles through the ride-hailing giant’s app. According to the local media, an error is displayed within the app when scanning an ofo bicycle’s QR code. The message says that the problem has been partially repaired, but Didi cannot resolve […]
Posted inOn the Cusp
Ofo rumor mill continues as they battle whispers of bankruptcy
The Chinese bike rental firm is reportedly preparing for its bankruptcy reorganization plans.
Posted inHeavy Hitters
Ofo considering restructuring operations in Spain as well as around the globe
Chinese bike sharing company ofo has hit another speed bump in its international markets. According to media reports, Ofo is pulling operations out in cities in Spain, including Madrid, Granada, Valencia, and Marbella, after entering the country less than a year ago. The company told TechNode that ofo is still operating in Spain, but admitted […]
Posted inNews
2017 vs 2016: Breakdown of top 10 new unicorns reveal shifts in China’s tech sector
The number of Chinese unicorns—startups with more than a $1 billion valuation—are growing so fast that later we might have to change the term into “dragons” in the future. The country now has 55 unicorns becoming the second-richest country in unicorn companies, followed by India and the UK. This is partly due to the ever-growing activity of […]
Posted inNews
Didi continues pivot into two wheeled mobility with beta test of electric bike rental
Chinese ride-hailing behemoth Didi is beta-testing its electric bike rental service in South China, a person with knowledge of the matter told TechNode. Didi is said to have won the initial support of at least three cities. The firm is expected to develop its own bike rental brand, or potentially a separate app, with an access […]
