Briefing: HelloBike rebranded as “Hello TransTech”

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哈罗单车品牌升级“哈啰出行” – The Beijing News

What happened: Hellobike has renamed itself as Hello TransTech (or Hello Chuxing in Chinese) CEO Yang Lei announced in a letter to his staff on the company’s 2-year anniversary. According to The Beijing News, the bike-rental company started registering a series of trademarks under categories including travel, logistics services, insurance, finance and real estate in April.

Why it’s important: Hellobike is one of the few that survived China’s brutal bike-rental industry. Last October, the company merged with rival Jiangsu You’on in order to better compete against industry giants ofo and Mobike. Since then, the bike-sharing firm has been targeting fourth and fifth tier cities in China. It is clear that the company is making its forays into a variety of businesses including the competitive ride-hailing industry.