Bike Sharing Becomes Didi's New Frontier

(Beijing) — Didi Chuxing, China's dominant ride-hailing service, may move deeper into the urban transportation ecosystem through Ofo, a bicycle-sharing startup that has just raised $130 million.

Ofo said on Monday that it has completed its latest round of fundraising, led by American technology hedge fund Coatue, Chinese smartphone maker Xiaomi and Citic Private Equity Funds Management Co. Ltd.