CONNECT WITH US:
Mar, 13 2018 18:10 JST
ofo Raises $866 Million in Latest Funding Round Led by Alibaba
SINGAPORE, Mar, 13 2018 - (Media OutReach) - ofo, the world first and largest station-free bike-sharing platform, announced a new $866 million round of funding led by Alibaba Group, with participation from Haofeng Group, Tianhe Capital, Ant Financial and Junli Capital. The strategic financing presents the highest funding record in the bike-sharing industry and marks a new era for operational efficiency of the bike-sharing system.
As a precedent of asset mobilization in the bike-sharing industry, ofo uses a combination of debt and equity financing for this round. ofo will drive long-term success independently with the continuing support of leading investors.
Dai Wei, founder and CEO of ofo said: "As the global leader in the bike-sharing sector, ofo has been transitioning from a phase of rapid growth to a stage of high-quality development. ofo will continue to put our customers first and lead the bike-sharing industry with technological innovation and efficient operations."
According to the recent industry report, ofo has already achieved dominant market place globally. The service improves the urban transport environment by reducing traffic congestion, saving energy and promoting better living. It is expected that the global number of shared bike users will increase to 1 billion in the next two years.
To date, ofo has operations in over 250 cities across 21 countries alongside widespread usage by over 200 million global users with more than 6 billion efficient, convenient and green rides, totaling to 32 million rides per day.
Founded in 2014, ofo is the world's first and largest station-free bike-sharing platform operated via an online mobile application. ofo is created for sharing and aims to unlock every corner of the world by making bikes accessible to everyone. To date, ofo has connected travelers in over 250 cities across 21 countries with more than 10 million bikes, generating more than 32 million daily transactions. In total, its platform has provided over 200 million global users with 6 billion efficient, convenient and eco-friendly rides.
ofo Brand Guide
The logo 'ofo' resembles a person riding a bicycle towards the west, where the two 'o' represents the front and rear end of the bicycle wheel and the 'f' is the user.
Do's: Please spell our company name as 'ofo'
Don'ts: Please do not spell ofo as 'Ofo' or 'OFO'
Copyright ©2018 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
MHPS Ships Coal Gasification Furnace Pressure Containers to Nakoso IGCC Power GK
Jun 22, 2018 18:53 JST
Mitsubishi Motors: New Eclipse Cross Awarded 5-star Adult Occupant Protection Rating in 2018 Latin NCAP
Jun 22, 2018 15:38 JST
Toyota Rolls Out First Fully Redesigned Century in 21 Years
Jun 22, 2018 13:52 JST
Eisai Selected for Membership in MSCI Japan Empowering Women Index (WIN)
Jun 22, 2018 11:58 JST
Fujitsu Enhances Cloud Services Portfolio to Support the Digital Transformation of Customer Businesses
Jun 22, 2018 11:17 JST
NEC Establishes NEC Laboratories India
Jun 21, 2018 15:01 JST
Fujitsu Completes Post-K Supercomputer CPU Prototype, Begins Functionality Trials
Jun 21, 2018 14:19 JST
Mitsubishi Corporation Named Preferred Bidder for Offshore Transmission Asset in the UK
Jun 21, 2018 13:00 JST
AbbVie and Eisai Announce the Launch of HUMIRA for Subcutaneous Injection 20 mg Syringe 0.2 mL
Jun 21, 2018 10:51 JST
Integrating MathWorks MATLAB and Microsoft Dynamics 365 Using Hitachi's Lumada IoT Platform
Jun 21, 2018 09:33 JST
DOCOMO Adds Amateur Sports Site to dmenu "Sports"
Jun 20, 2018 15:36 JST
NEC Establishes "NEC X" in Silicon Valley
Jun 20, 2018 12:12 JST
MHIET Wins Two Awards from the Japan Gas Association
Jun 20, 2018 10:45 JST
Fujitsu Launches Edge Product Certification Program for "COLMINA" Manufacturing Solution
Jun 20, 2018 10:33 JST
NEC to Supply 20 MW Energy Storage System to OErsted UK
Jun 19, 2018 17:05 JST
DOCOMO Develops Population Flow Statistics as Transportation Big Data
Jun 18, 2018 16:59 JST
TOYOTA GAZOO Racing Wins Le Mans
Jun 18, 2018 09:00 JST
Mitsubishi Corporation to Acquire Additional 21.9% Stake in Quellaveco Copper Mine Project
Jun 15, 2018 16:04 JST
Toyota: Advanced Automatic Collision Notification Service "D-Call Net" Expanded Nationwide
Jun 15, 2018 13:50 JST
Mobile Industry Works Together to Deliver Complete 5G System Standard on Time
Jun 14, 2018 17:42 JST
More Latest Release >>
ofo and KT Corporation sign a MOU to Commercialize Korea Customized Bike-sharing Service in Korea
April 04 2018 16:15 JST
More Press release >>