Dai Wei, the 26-year-old co-founder and CEO of yellow-hued bike-sharing platform Ofo, made a telling comment earlier this year.
Speaking on completion of the firm's $450m D-round financing on March 1, Dai told reporters The real race will begin in July.
On Thursday, it became clear what he meant the Beijing-based start-up announced it had raised more than $700 million in Series E funding, led by perhaps the biggest name yet to take a slice of China's bike-sharing craze e-commerce behemoth Alibaba Group.
The announcement came less than a month after bike-sharing rival Mobike raised $600 million from a consortium led by...
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