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 […]
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Meituan-Dianping rumored to acquire Mobike for $3.7 billion
Editor’s note: Rumors are rife in China, especially so in a hotly contested area like transportation and O2O services. This news is unconfirmed and the veracity of Mobike’s financial and operational situation as outlined is unclear. Update 10:02 04 Apr 2018: The purchase has been confirmed by multiple sources. Follow our coverage here. Rumors of […]
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State inspection reveals quality issues in several brands of bike rentals
Some of the fashionable shared bicycles we ride every day are not as save as we thought.
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Mobike updates credit score system, will charge RMB 100 per 30 minutes for low scorers
Bike rental firm Mobike has updated its credit score system. Renters who misuse their bike rental system will be charged up to RMB 100 for 30 minutes of cycling. The update is global and in China comes after Haidian District Court issuing Mobike with judicial advice and increased pressure on bike rental companies from local […]
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Messaging app LINE leads Mobike Japan A round
Mobike has announced that it is launching a strategic partnership with LINE Corporation, which operates the LINE messaging platform. The partnership includes LINE leading the A round of investment in Mobike Japan, the local subsidiary of the hire bike firm. LINE will have the largest minority stake at under 20%. Other investors in the A […]
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Mobike officially launches ride-hailing service, first testing in Guizhou
Mobike, China’s major bike rental company, announced today that it will roll out its first ride-hailing service in Guizhou, marking the firm’s official attempt to expand outside of the bike rental business. The first batch of the “shared” cars are all new energy vehicles and will be placed in Guian New Area and Guiyang City […]
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Mobike awarded Champions of the Earth by UN Environment
Mobike has been recognized by the UN for its contribution to the advancement of low carbon public transport. Mobike won the accolade in the Entrepreneurial Vision category of the United Nations Environment’s Champions of the Earth awards. Hu Weiwei, Mobike’s founder, was presented with the award alongside six other winners–including two other Chinese winners–at a […]
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Global bike rental is about to get even bigger: Cheetah Global report
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 […]
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Mobike, ofo say no to merger despite investor pressures
Despite the rumors and speculation surrounding a possible merger between Mobile and ofo, Mobike co-founder and CEO Davis Wang has made it clear again at TheYearAhead Summit that a “merger is not an option for the company,” local media is reporting. Similarly, ofo founder and CEO Dai Wei also expressed previously that the company would not […]
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Mobike launches new, lighter stronger model
Mobike, China’s major bike-rental company, today launched a new model of its smart bike called “New Lite.” It features a minimalist design, longer lifespan, and lighter weight. The all-new model comes with a stronger bike frame which is 50 percent stronger than European standards and weighs 15.5 kilograms, making it the lightest mainstream bike rental […]
