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在线翻译:
szdaily -> Business
Hellobike raises $350m in latest funding round
    2017-December-5  08:53    Shenzhen Daily

BICYCLE sharing firm Hellobike said yesterday it raised US$350 million in its latest funding round from investors including Alibaba Group Holding Ltd.’s Ant Financial, confounding recent signs of strain in the nascent industry.

The Shanghai-based firm is among a slew of companies that have launched a wave of brightly colored shared bicycles on to China’s city streets over the past year. However, the sector now faces a shake-out with the third-largest firm announcing last month that it would cease operations.

The latest funding round is the fourth for the 1-year-old company, which merged with Youon Ditan, an affiliate of Changzhou Youon Public Bicycle System Co., in October in the industry’s first merger.

Other investors in the latest funding round included Chinese carmaker WM Motor Technology Co. and venture capital firm Chengwei Capital, Hellobike said.

The company has focused on third and fourth-tier Chinese cities and said it now has 80 million users.

“The success of this funding round is due to the market’s recognition of Hellobike’s business development potential amid a shake-up in China’s bike sharing industry,” Hellobike said in a statement.

China’s bike sharing craze has been driven by huge investments, especially into the two market leaders, Ofo and Mobike, which have raised billions of dollars from tech giants including Alibaba and Tencent Holdings Ltd.

The pair are often regarded as China’s “Uber for bikes,” in reference to car sharing firm Uber Technologies Inc. They have deployed millions of bicycles around the country and pushed into overseas markets such as the United States and Europe.

Coolqi, known by their green shared bikes, and Bluegogo, with its iconic blue bikes, were the latest bankrupt bike sharing firms. Coolqi, with 1.4 million shared bikes, went bankrupt in November in a suspected capital chain break, and Bluegogo, with 830,000 bikes, closed the same month due to suspected financing failure.(SD-Agencies)

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