On March 4Industry and Commerce Department information shows, OFO founder Dai WeiDai Wei took the company's shared bikes as a pledge two times successivelyin exchange for a total of 1.77 billion yuan loan from Ali by the way of chattel mortgage.This is 8 months after OFO's last $700 million financing.OFO twists and turns from the second half of 2017 to the present, compared with the fantastic days of 2016 and the first half of 2017. In early December 2017, OFO's early-stage investor, GSR Ventures Partner Zhu Xiaohu, signed the exit agreement to sell OFO's shares to Alibaba and Didi for a valuation of 3 billion U.S. dollars. In January 2018, there are media reports that OFO has less than 600 million yuanon its account.According to the monthly salaries and operation and maintenance expenses of 400-500 million yuan and the continuous outflow of deposits, OFO's cash at hand can only support one month.It is noteworthy that the shared bicycle market, which has been losing money for a yell, is getting back to reason.Recently, OFO and Mobike shared bike companies' monthly card have returned to 20 yuan / month and canceled 90% discount. However, the war between shared bike companies will continue, and the outcome is more unpredictable. . Since shared bike has not found a profit model so far, it will be a dead end if it continues to be developed in the current mode. By that time, all the investment in shared bike will vanished like smoke. Fortunately, now the capital is surplus, the money is nothing for Alibaba, Ant Financial. Their funds come either from the capital markets, or from venture capital funds, including many "mogul" state-owned enterprises' money.