Germany has become the latest market from which Chinese bike-sharing firm ofo will make an exit. The company, which has been plagued by rumors of a cash crunch over the past few months, has adjusted its overseas operations in line with its plans to focus on priority markets. ofo has begun scaling back its international operations […]
Chinese bike sharing company ofo has hit another speed bump in its international markets. According to media reports, Ofo is pulling operations out in cities in Spain, including Madrid, Granada, Valencia, and Marbella, after entering the country less than a year ago. The company told TechNode that ofo is still operating in Spain, but admitted […]
The bike rental giant is currently in negotiations about merging with Hello TransTech, previously known as HelloBike.
ofo raises $866 million in latest funding round led by Alibaba
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 […]
Updated January 9, 2018: This article was updated to include a statement from Didi. Details have been released on the Didi Chuxing and Bluegogo tie-up. According to sources quoted by Pingwest (in Chinese), negotiations between the two mobility firms have been completed but Didi will only take over a part of Bluegogo’s business. Didi plans […]
Recent advertising methods haven’t seemed to relieve ofo from its stressed financial situation.
Cash-strapped Ofo could try wheeling its business down another path.
Cheetah Global has come out with freshly-minted statistics on the state of the bike rental economy in the world. Public bicycles were first started in Europe but have seen their biggest success in the East starting from China’s dockless bike systems ofo and Mobike. According to the global distribution of active users gathered by Cheetah […]
Didi Chuxing has announced that it is launching its bike rental platform today in Beijing and Shenzhen. The platform will be integrated into the ride-hailing giant’s original app and will include both ofo’s and Bluegogo’s bicycles. The company plans to offer its platform in other parts of the country in the future. The announcement came […]