Last night (03 Apr 2018), Mobike shareholder meeting voted in favor of the Meituan acquisition, The Beijing News has reported (in Chinese). The Chinese group buying site Meituan agrees to acquire the bike rental company Mobike for 35% in equity and 65% in cash, of which $320 million will be used for future liquidity needs. Details […]
Didi hopes new strategies will help it complete a U-turn that will get it out of the dead-end in which it finds itself.
The bike rental bubble popped a long time ago. Now, a new group of companies are taking a different approach to their predecessors.
Ride-hailing, bike rental, and food delivery services were all affected.
Chinese bike rental giant ofo has started selling advertisements on its bikes and apps (in Chinese) in an attempt to boost revenues amid increasing cash strain. The company will launch custom-designed bikes and the bike-body ads will appear in bike wheels, saddle and baskets for clients to reach the public with their messages. Rumors of ofo’s failure […]
So far, more than 1,000 user accounts have been frozen for periods of time ranging from five to 90 days.
Didi is digging a wide yet deep competitive moat around the broader Chinese mobility market. Bike rentals will be a main driver of growth.
The rules went into effect on Wednesday on Didi’s bike-rental platforms Qingju and Bluegogo.
Didi’s struggles in the bike-rental market led to a launch of its own brand, Qingju.
China’s bike rental industry is rebounding after the Spring Festival holiday as riders see it as the safest transportation option during the outbreak.