Uber rival Didi Chuxing invests in bike startup Ofo
Ride-hailing major Uber's Chinese rival Didi Chuxing has invested an undisclosed amount in Ofo, a bike-on-demand startup. The two-year-old startup operates almost 70,000 bikes across 20 Chinese cities, mostly around college campuses. Didi Chuxing recently acquired Uber's China business and is currently said to be valued at $35 billion.