Are Mobike and ofo Merging?

Photo source: techsite.io

You’ve surely heard the rumors by now: Mobike and ofo investors have been in talks about a potential merger.

Bloomberg reported on October 3rd that top investors in both companies are seeking to end the costly ‘bike wars’ and cooperate to ensure future success.

This would be no small merger as both bike share companies are backed by giants in China’s internet industry. Mobike is backed by Tencent Holdings Ltd. and ofo by Alibaba. In the article, Bloomberg notes that the pair’s combined valuation would likely exceed $4 billion.

Source: Bloomberg

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