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(Yicai Global) Dec. 20 -- Line Corp., operator of Japan's most popular messaging app, is teaming up with Beijing Mobike Technology Co. and has led the A-round financing of the Chinese shared-bike firm's Japanese unit. They will work together to tap the market in Japan and roll out localized services.
The Line app will integrate Mobike services, enabling it 71 million users to borrow bicycles by scanning QR codes and pay for their rental using Line Pay or other methods.
Line's investment in Mobike Japan, a subsidiary Mobike set up in June, will give it a stake of at most 20 percent. The Japanese affiliate officially began operating in Sapporo in August.
"Line is the clear leader in Japan's social media space, with a strong culture of innovation and creativity," said Mobike founder and President Hu Weiwei. "Therefore, it is the perfect partner to support our ambitious growth plans in Japan."
"Working together with Line, we will be able to provide tens of millions of Line users with a seamless and localized experience for finding, unlocking and paying for bikes with the Line app," Hu said.