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.’
Chinese businesses love to post ads where they shouldn’t be.
The Chinese bike-rental firm will also become a distinct business group within the lifestyle services company.
This is the first time for Mobike to pull out of a city because of antisocial behavior.
The law comes as concern mounts about the financial stability of a number of mobility firms in the rental economy sector.
Two repeat investors participated in DST’s latest fundraise, and well-known Qiming Ventures led its first funding rounds.
Bike companies have a longer time for implementation than previously announced.