The shared bicycle Ofo recently received a financing of RMB 1.77 billion from Alibaba through asset mortgages. Ofo has been eight months from the previous round of financing of more than US$700 million, and there is news that the company is one of the shareholders. The dribble trip refused to sign the contract and the investment issues ran aground. This was the current situation for the financing of loans. According to today’s headline report, shared bicycle manufacturer Ofo recently borrowed RMB 1.77 billion from Alibaba’s bicycle assets through mortgages. Currently Ofo still refuses to respond to the news. The current public information shows that the first pledge took place on February 5, 2018, and the number of mortgages was 4,447,572 small yellow cars. The location of the vehicles included Maling Road in Xicheng, Beijing, and Nanshan Coast in Shenzhen. City, etc., mortgaged to Shanghai Yunxin Ventures, the amount of which was RMB 500 million. According to the data, Shanghai Yunxin is the holding company of Ant Financial and its legal representative is Jing Jindong, CEO of Ant Financial Services. The second pledge is Occurred on February 12, 2018, the collateral was a floating number of shared bicycles. The mortgagee was Zhejiang Tmall. The amount of claims was RMB 1.266 billion. Since the end of 2017, The news of the crisis of funds shortage with Ofo has been flooded with major media reports. In mid-January 2018, some media revealed that Ofo will receive a $1 billion financing led by Alibaba. However, the financing is always It was not confirmed by the participating companies. Other relevant sources pointed out that the major intervention factors for this investment were not implemented. Although Ofo still has funds, it is obtained through asset mortgage. Ofo had worked in October 2017. The outgoings will merge with Mobike. Eventually unsuccessful mergers will be made. Together with the strategy of burning money, the operating costs will increase, and the tight funding will become a common dilemma for the two companies. Now there are more emerging forces, such as Kazakhstan.啰 Cycling and Didi's Diqing green bicycles are eyeing the shared bicycle market. The future of Ofo and Mobai is worrying.
