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Asia Venture Capital Startups

SoftBank in Talks to Invest in Alibaba-Backed Bike Sharing Startup Hellobike

SoftBank is in talks to invest in Chinese bicycle-rental startup Hellobike, at a time when the market is going through a potential shakeup, people familiar with the matter said.

The talks are ongoing and the companies haven’t reached an agreement yet, the people said. It is unclear how big an investment would be and at what valuation. Hellobike, one of the biggest players in the bike-sharing sector, has previously raised funds from investors including Alibaba’s financial services affiliate Ant Financial and GGV Capital, among others. In its last fundraising earlier this year, Hellobike was valued at more than $2 billion.