Ofo, Bike Sharing Startup To Raise $1 Bn From SoftBank Group
Chinese startup Ofo is in talks to raise $1 billion in a new funding round led by Japan's SoftBank Group, people familiar with the matter said, in what would be the largest fund-raising in the nation's bike-sharing business.
Didi Chuxing, China's biggest ride-hailing firm which counts SoftBank as an investor, could join Ofo's new fundraising round，the sources told Reuters. Ofo could reach a valuation of close to $3 billion after the funding, one of the sources said.
Ofo is seeking fresh capital less than a month after raising more than $700 million from investors led by Alibaba Group and two others, following rival Mobike, which in June announced a $600 million investment led by Tencent Holdings.
The latest Ofo investment plan has not been finalised, the sources said, who declined to ...