Chinese bike-rental firms, Mobike and Hello Transtech, expressed their willingness to enter the bidding.
A total of 13,615 people in the southern Chinese city of Shenzhen will be temporarily banned from using shared bikes due to traffic violations, according to media reports (in Chinese). This is the first batch of traffic offenders that will be punished according to the new rules on shared bicycle users’ behavior issued by the Shenzhen […]
Beijing and Shanghai have given no indication of whether the bans will be lifted.
As the bike rental cools down, industry insiders start to ask how well the bike ban fits current circumstances.
Didi’s struggles in the bike-rental market led to a launch of its own brand, Qingju.
The current reduction in bike placement is also a result of a cooling market.
Ofo, a leading bike rental company in China, has set up a research institute to tackle urban bike sharing management problems with blockchain technology, the company announced May 17. According to its press release, ofo’s blockchain research institute aims to use blockchain technology globally to further facilitate big data and IoT (Internet of Things). “This […]
Chinese ride-hailing giant Didi Chuxing is reportedly closing an acquisition deal of ofo, the last remaining major independent player in China’s bike-rental industry, local media reported citing people familiar with the matter. The source disclosed that Didi already sent due diligence team to ofo over the past two to three weeks. The two parties are […]
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 […]
China’s bike rental industry has experienced a roller coaster over the past 3 years. At its height, there were nearly 80 bike rental startups in the market, brightening the streets with a rainbow of bikes. But in the fast-paced tech world, trends come and go quickly. Within a year, over 20 bike startups failed, including […]