Ofo (company)
 | |
| Company type | Private |
|---|---|
| Industry | Transportation |
| Founded | 2014[1] |
| Founder | Dai Wei |
| Headquarters | Beijing, China |
Key people | Dai Wei |
| Products | Bicycle sharing services |
| Website | ofo.com |
Ofo is an Beijing-based bicycle sharing company founded in 2014. A $450M February 2017 funding funding round valued the company at $1 billion.[1] The company claims over 20 million registered users.[2]
History
Ofo was started as a student project in 2014 by eventual PhD dropout Dai Wei and four fellow students from Peking University. They studied cycle tourism before deciding on bike sharing as a business model.[1]
Funding
In February 2017, investors including investment group DST Global, ride-hailing giant Didi Chuxing and CITIC's private equity arm combined in a $450 million funding round. Earlier investors included Didi as well, and Chinese smartphone maker Xiaomi.[2]
References
- ^ a b c "One Startup Builds $1 Billion Business Out of 15-Cent Bike Rides". bloomberg. February 28, 2017. Retrieved March 11, 2017.
- ^ a b "Ofo, Chinese bike-sharing firm, raises $450 million in latest funding round". reuters. March 1, 2017. Retrieved March 11, 2017.
External links
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