Ofo is a station-free bike-sharing platform operated via an online mobile application.
Ofo is a “station-free” bike-sharing platform operated via an online mobile application. It is committed to providing the best short distance transportation solution, solving the “last mile” transportation problem by turning the last mile into a green, low-emission trip. To date, ofo has connected more than 10 million bikes to over 200 million users in more than 20 countries: Australia, Austria, China, Czech Republic, France, Germany, Hungary, India, Israel, Italy, Japan, Kazakhstan, Malaysia, Portugal, Russia, Singapore, Spain, Thailand, the Netherlands, the UK, and the US. The platform generates more than 32 million daily transactions and has provided global users in 250+ cities with over 6 billion efficient, convenient, green rides.The ofo platform is easy to use. After downloading the ofo mobile phone app (iOS/Android), users may scan the QR code or enter the plate number displayed on each bike to receive a passcode and unlock it. Its bike-sharing system requires no docking stations, providing significant flexibility for users to find and return bikes anywhere, anytime. Once they reach their destination, the user may park the bike anywhere that is legitimate, convenient, and easy for the next user to access. But ofo does more than help commuters and travelers access bikes for getting around their cities. As a partner of the UN Development Programme, they are focused on achieving Global Sustainability Goals and promoting green and healthy living, and they have also launched a partnership with Rihanna's Clara Lionel Foundation to provide bikes and scholarships for schoolgirls in Malawi.
Announced Date | Round | Money Raised | Number of Investors | Lead Investors | Post Valuation | |
---|---|---|---|---|---|---|
Mar 13, 2018 | Series F | $866M | 4 | Alibaba Group | — | Detail |
Jul 5, 2017 | Series E | $700M | 1 | Alibaba Group | — | Detail |
Investor Name | Lead Investor | Funding Round |
---|---|---|
Alibaba Group | Yes | Series F |
Haofeng Group | — | Series F |
Junli Finance | — | Series F |
Tianhe Capital | — | Series F |