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Economy· Business

After taking a stake in Bytedance, Softbank pursues investment in Hellobike

CKN
minutes 2018/11/08 03:54:05
2,164
China's News, China's Financial News,  Softbank, Hellobike

Nov 08, 2018 (China Knowledge) - Softbank has recently shown a strong interest in Chinese tech start-ups, and after buying stakes of Bytedance, it has shown interest in investing in bike sharing start up Hellobike.

Hellobike received RMB 2.06 billion in financing in June this year, including an additional RMB 1.89 billion from Shanghai Yunxin, a subsidiary of Ant Financial. The It is estimated that the valuation of Hellobike will reach USD 1.47 billion.

According to sources, Softbank, yesterday, held talks with Hellobike regarding potential investment. The report points out that the negotiations still continue, but there is no agreement on the size and valuation of the investment.

As for this news, there was no official response from Hellobike.

On the other hand, the Nihon Keizai Shimbun (Nikkei) reported on this Tuesday that Softbank Vision Fund confirmed it had invested in Bytedance, but did not disclose the exact amount and timing of the investment.

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