Ant-backed Hello Inc looking to raise funds at lower valuation – Bloomberg News


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Chinese bicycle sharing startup Hello Inc, which is backed by Jack Ma’s Ant Group, is trying to raise funds at a lower valuation, just a month after scrapping its U.S initial public offering plans, Bloomberg News reported on Wednesday.

The company is seeking to raise between $100 million and $300 million in a private funding round, the report said, citing people familiar with the matter.

Hello, which offers two-wheeler services and operates a carpooling marketplace in China, said in July it was scrapping its IPO in the United States, against the backdrop of a regulatory crackdown on U.S.-listed Chinese companies. (

Hello did not immediately respond to a Reuters request for comment. (Reporting by Eva Mathews in Bengaluru; Editing by Saumyadeb Chakrabarty)