Mobike Stuffs Its Baskets With Cash in New Funding Push
Bike-sharing leader Mobike has raised around $1 billion in its latest fundraising round, sources said, after a possible merger with its archrival Ofo fizzled out.
Mobike and Ofo have been in a cash-burning war to try to dominate the wildly popular bike-sharing sector, offering deep discounts to attract loyal riders. The identity of the latest investors in Mobike wasn’t clear.
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