‘Uber for bikes’ Mobike raises over $600m led by Tencent

FILE PHOTO: A Mobike sign is seen in Guangzhou, Guangdong Province, China, October 8, 2016. REUTERS/Stringer/File Photo

Shanghai-based Mobike, which claims to be the largest smart bike-sharing company globally, on Friday said it had raised over $600 million in a new round of financing led by existing investor Tencent. This Series E round reportedly values the company at more than $3 billion.

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