Dan Primack Mar 7, 2017
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Questions swirl around Chinese bike-sharing fundraise

Last week we cited a Bloomberg report about how Chinese bike-sharing startup Ofo had raised $450 million in VC funding at a valuation north of $1 billion. Now, however, there are questions about whether that total is legit. Per China Money Network:

"A number of Wechat screenshots have circulated showing unnamed individuals accusing Ofo of faking the US$450 million number, claiming the company raised only a portion of that amount."