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Ofo signs partnership with Huawei and China Telecom, finally becoming a technology company

Yesterday, Ofo has announced a partnership deal (in Chinese) with China Telecom (中国电信) and Huawei. The partnership will see China Telecom providing wireless data access, Huawei providing NB-IoT chips (PDF), and Ofo providing the bikes. The announcement emphasized a big pain point for the company: their technology. At this point, it’s fairly clear that Mobike and Ofo […]

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Bike-rental startup ofo lands series D+ backed by Alibaba’s Ant Financial

The funding spree continues in China’s bike-rental sector. Bike-rental startup ofo announced over the weekend that it raised an undisclosed amount in its Series D+ from Alibaba’s financial arm Ant Financial. Under the deal, ofo cooperate with Ant Financial in the fields of e-payment, credit system and globalization process. The announcement came less than two […]

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Shanghai mulling bike-rental regulations

Shanghai is mulling rules to regulate the sizzling yet reckless development of the city’s bike-rental sector, local media is reporting (in Chinese). The new rules, expected to be introduced in May and come into effect in June or July this year, are the latest government efforts to deal with the growing problems emerging with the bike-rental […]