The rate increase is part of parent company Meituan’s broader profitability push.
Mobike Europe branch is reportedly planning on branching out into e-bike and scooter rentals in the region.
Mobike has started to charge Shanghai users an extra RMB 20 (around $3) if they park a bike outside the company’s ‘area of operation.’
Beijing and Shanghai have given no indication of whether the bans will be lifted.
Hellobike’s new prices are more expensive than taking the bus in Beijing, which may be a blow to its business model.
Hello Inc’s filing shows that the sector’s few remaining players now seek sustainable growth after reckless expansion in earlier years.
Other bike-rental companies are considering raising prices, as warmer weather brings a likely rebound in trip numbers.
Two repeat investors participated in DST’s latest fundraise, and well-known Qiming Ventures led its first funding rounds.
Meituan-owned Mobike also denied that layoffs in Asia are part of a larger exit strategy.
Cryptocurrency financial service provider Babel Finance looks to lure investors from traditional finance to the digital assets world.