Mobike inks deal with LINE Corp

Partnership with major Japanese social media provider to facilitate expansion

Chinese bike-sharing top player Mobike Technology Co Ltd on Wednesday announced a strategic partnership with LINE Corp, Japan's largest mobile social network service provider, to better facilitate its expansion in the Japanese market.

Under the partnership, LINE led an undisclosed Series A round of investment in Mobike Japan, the Beijing-based dockless rental company's subsidiary in the country. LINE Corp, which operates Japan's popular messaging platform LINE with 71 million local users, will own less than 20 percent of Mobike Japan, taking the largest minority stake.