Amidst signs of a serious cash crunch, ofo claims that its B2B business has made over RMB 100 million in revenue.

In an interview with local media, Shao Yi, the head of ofo’s B2B business division, revealed that “ofo B2B business is going smoothly. As of now, its revenue has passed the RMB 100 million mark. At the same time, ofo’s B2B business in over 100 cities in China has managed to turn profits.”

Ofo’s B2B division was formed 2 months ago, its business ranges from include bike-body ads, in-app ads and the corporate green card (a scheme for companies who want to place their ads in the ofo app).

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.