Ofo Denies Reports It Can’t Keep Up With Salary Payments

Ofo Denies Reports It Can’t Keep Up With Salary Payments

Xu Wei

Date: Wed, 09/12/2018 - 11:59 / source:Yicai
Ofo Denies Reports It Can’t Keep Up With Salary Payments
Ofo Denies Reports It Can’t Keep Up With Salary Payments

(Yicai Global) Sept. 12 -- Chinese bike-sharing provider Ofo has denied reports claiming it only paid some of its staff salaries last month, amid conflicting reports that the company collected a CNY60 million (USD8.8 million) loan from major investor Alibaba Group Holding earlier this month.

Ofo, officially Bikelock Technology, has paid all employees as required any rumors suggesting otherwise are nonsense, the firm said in a statement yesterday, adding that it holds the right to take legal action against libelous claims. The Beijing-based firm did not disclose whether or not it had received a loan from Alibaba, which would be the second this year after it lent the bike sharer nearly CNY1.8 billion (USD260 million) in March.

Self-media outlet AI Finance & Economics said yesterday that the Beijing-based firm had not paid some of its head office employees as it is struggling to climb a mountain of debt. It also claimed that Ofo had not received the supposed loan from Alibaba because another major investor, ride-hailing giant Didi Chuxing, refused to accept it.

Online news portal Jiemian had reported earlier that day, citing an informed source, that Ofo had already received the money from the e-commerce titan. But later the same day, QQ Tech, a news portal run by Alibaba rival Tencent Holdings, cited an insider as saying no such loan existed.

Didi itself has said it did not reject such a loan and is supportive of Ofo raising money.

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Keywords: OFO, Didi, Alibaba, Bike Sharing