Key Updates since Alibaba’s Latest Investment in Ofo
A lot has transpired in the biking market since Alibaba (BABA) led several other investors in injecting more funds into bike-sharing provider Ofo last month. Just a few weeks after it was revealed that Alibaba led a funding round that raised $866 million for Ofo, Meituan-Dianping, a bike-sharing provider, moved to acquire its rival Mobike. Both Meituan and Mobike are backed by Alibaba mobile payment rival Tencent (TCEHY). Tencent also backs Snapchat parent Snap (SNAP). ...