Hello Inc, formerly known as Hellobike, is the latest Chinese tech company to abandon overseas IPO plans amid increased scrutiny.
Ofo has released a revamped app featuring e-commerce offerings on JD.com and Tmall through which users can ‘earn’ back their deposits by shopping rebates.
Troubles for apartment rental platform Qingke highlight the risks in the industry, where highly leveraged financing is used to achieve scale very quickly.
The company started registering a series of trademarks back in April.
More merger and acquisition activity is in store for the power bank rental sector.
The Chinese bike-rental firm will also become a distinct business group within the lifestyle services company.
Recent advertising methods haven’t seemed to relieve ofo from its stressed financial situation.
China’s second landlord platforms are highly susceptible to downturns. Many have already collapsed—and there’s no guarantee even the largest will survive.