Alibaba Joins Bike-Sharing Startup Hello's $280 Million Funding Round
What’s new: Chinese bike-sharing startup Hello Inc. raised $280 million in a funding round led by Alibaba and Ant Group, the company said Tuesday.
It was e-commerce giant Alibaba’s first investment in Hello, although its finance arm Ant has been a longtime backer and the largest shareholder of the bike-sharing company. Ant held 36.3% of the company before the latest investment.
Hello has raised $500 million so far this year.
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