Ofo currently has operations in 21 countries with over 200 million global users totalling to 32 million rides per day, it said in a statement. Photo: BloombergChennai:Bicycle-sharing platform provider, Ofo on said it has raised $866 million in a round of funding led by the Alibaba Group. “As a precedent of asset mobilisation in the bike-sharing industry, Ofo uses a combination of debt and equity financing for this round,” the statement said. “Ofo will continue to put our customers first and lead the bike-sharing industry with technological innovation and efficient operations,” he said. Ofo currently has operations in 21 countries with over 200 million global users totalling to 32 million rides per day, the statement said.

Source: Mint March 13, 2018 09:56 UTC