Updated: Cracks appear in DiDi and ofo partnership sparking doubts over ofo’s $700 million funding round

Insiders from ofo have confirmed to local media that ofo’s executive chairman, Chief Financial Officer, and other senior executives went on a “vacation” in July this year. A rift between ride-hailing giant DiDi and bike rental mammoth ofo might be the reason behind the event, Bianews has reported.

ofo has since published a statement denying the claims.

According to the report, tensions began in April when young ofo founder and CEO Dai Wai was reportedly accused of wasting funds because of its lack of management experience and internal management problems. In July, ofo announced that senior vice president Fu Qiang will become ofo’s new president. On July 26th, ofo executives went on vacation. There are no specifics about the tensions between the two partners or what the “vacation” means.

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