Ofo, Chinese bike-sharing firm, raises $450 million in latest funding round

March 1, 2017 SHANGHAI/HONG KONG (Reuters) – Chinese bike-sharing start-up ofo said it has raised $450 million in a fresh round of funding, as the firm faces up against deep-pocketed rival Mobike in one of the hottest sectors to attract tech investors. Investment group DST Global, ride-hailing giant Didi Chuxing and CITIC’s private equity arm were among investors, the company said in a statement. Ofo and Mobike are two of a growing number of bike-sharing services in China that allow users to find, unlock and pay to rent the bicycles…

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