Hello Inc, formerly known as Hellobike, is the latest Chinese tech company to abandon overseas IPO plans amid increased scrutiny.
Despite the positive news, the filing reveals that Hello Inc. still has a ways to go to reach maturity. The company has faced massive losses.
The company says it holds over 50% market share in terms of numbers of orders.
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.
The rate increase is part of parent company Meituan’s broader profitability push.
Youon is one of the few Chinese bike rental companies still expanding overseas.
Hellobike’s new prices are more expensive than taking the bus in Beijing, which may be a blow to its business model.