Ofo, one of China’s two billion-dollar-valued bike-sharing companies, has announced that it raised a $700 million Series E funding round which is led by e-commerce giant Alibaba, Hony Capital and CITIC Private Equity. Existing backers including ride-sharing firm Didi and DST Global also took part. This is the first time Alibaba has officially thrown its lot into China’s… Read More from TechCrunch via August 31, 2017 at 01:00PM