Hu’s resignation comes at a tumultuous time in China’s bike-rental industry.
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Posted inHeavy Hitters
Briefing: Mobike begins replacing 40 thousand old bikes in Shenzhen
The company is doing so in compliance with recent government regulations that demand old bikes to be withdrawn before new ones can be introduced.
Posted inHeavy Hitters
Mobike’s users in Beijing restricted to parking within operational areas
China’s Mobike to restrict rider parking in Beijing as authorities tighten regulation on dockless bikes – SCMP What happened: Bike rental firm Mobike is prohibiting riders from parking outside of specified operational areas. The company has set a boundary that determines how far away from the city center users can park their bikes. If they park […]
Posted inHeavy Hitters
Mobike removes last hold over user behavior as it trials deposit free in 100 cities
Mobike is extending deposit-free, credit-free bike rentals to a hundred cities. After launching the deposit-free system in Hefei, Hangzhou, Dongguan and other cities in May, it will now spread to a hundred areas–including second and third-tier cities–covering more than half its China cities. The first tier cities of Beijing, Shanghai, Guangzhou, and Shenzhen will not […]
Posted inHeavy Hitters
Mobike co-founder and CEO Davis Wang resigns, Hu Weiwei takes the handlebars
After Xiaomi’s organizational shuffle, bike rental platform Mobike has announced some shifts in its staff too. Mobike’s founder Hu Weiwei is set to become the new CEO of the company taking the place of Davis Wang. Wang co-founded the bike rental platform in 2015 after serving as General Manager of Uber Shanghai. In an internal […]
Posted inHeavy Hitters
Ofo said to complete a new round of financing led by Didi and Ant Financial
The news of ofo’s E2-2 round comes amid rumors of acquisition by Didi Chuxing.
Posted inHeavy Hitters
ofo’s US fire sale is another spoke in China’s rental-bike wheel
Cash-strapped Ofo could try wheeling its business down another path.
