Mobike responds to claims of inflated numbers

Chinese bike-rental company Mobike has responded to reports of exaggerated user numbers. A Bloomberg article headlined “Meituan IPO fact-checks Mobike’s fanciful numbers” found that the operation details of Mobike in Meituan Dianping’s public filings were significantly more toned down than the flamboyant numbers that the company had previously released. Mobike was acquired by the recently IPO’d Chinese food delivery platform Meituan Dianping in April.

The prospectus shows that in the four months ended April 30, 2018, Mobike had 48.1 million active bike users and 7.1 million active bikes. However, the company’s press release in December claimed that it had amassed over 200 million users globally and earlier this year the company also touted to have deployed 9 million bikes worldwide.

The public filing also shows that over 1 billion rides were completed during the four-month period, averaging 8.4 million rides per day—which is also significantly lower than the 30 million rides that the company claimed back in October.

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