Ant Financial buys into first bike-sharing merger

A widely-expected wave of consolidation in China’s bike-sharing business finally arrives, with the operator of Alipay playing a part.

When it comes to successful fundraising, China’s bike-sharing industry is undoubtedly a textbook case, drawing billions of dollars despite the lack of a clear business model and uncertainties around profitability.

¬ Haymarket Media Limited. All rights reserved.

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