bike aggregator | Pixr8 News

China’s bike rental giant, Ofo announced it raised $866 million investment led by Alibaba Group, with additional partners in Haofeng Group, Tianhe Capital, Ant Financial and Junli Capital. The company is using a combination of debt and equity financing for this round of investment. A statement from the company claimed that this new funding represents a record in the bike-sharing industry. Earlier this month, rumors spread in China reporting Ofo held $280 million funding from Alibaba through chattel mortgage. However, we got no information concerning a relation between the two occurring news reports. "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 fi...

Cab aggregator Uber today commenced operations of uberMOTO, its bike-sharing product, in Hyderabad. The launch of the product was announced at an event held at T-Hub here last month in the presence of Travis Kalanick, Founder and CEO, and K T Rama Rao, Telangana Cabinet Minister for IT, Industries & Commerce. Driver partners of uberMOTO were taken through a training session on various road safety related topics by representatives from the RTO before starting their first trip, the company said in a statement. Kalanick was quoted as saying, "It's (uberMOTO) a quick, easy and affordable way to get around the city. And it's great to be working with a progressive, forward thinking government like Telangana on smart mobility solutions that can help reduce congestion in urban areas." ...

Tag: bike aggregator

Bike Rental Company Raises $866 Million From Alibaba

Uber Starts Bike Sharing Service “uberMOTO” in Hyderabad