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.
China’s bike rental industry has experienced a roller coaster over the past 3 years. At its height, there were nearly 80 bike rental startups in the market, brightening the streets with a rainbow of bikes. But in the fast-paced tech world, trends come and go quickly. Within a year, over 20 bike startups failed, including […]
The bike rental bubble popped a long time ago. Now, a new group of companies are taking a different approach to their predecessors.
It is almost two years since Mobike co-founder Hu Weiwei put around 50 bicycles on the streets of Shanghai and drove away. Ofo had a similar beginning, spreading out shared bikes on Beijing’s university campuses. This is how China’s dockless bike rental economy was born—from moves that could easily be branded as crazy. Today, bikes […]
On March 17, investors in both Ofo and Mobike took the stage at ChinaBang Awards 2017 to discuss the future of the bike-rental industry. Grace Gu, principal at Ofo-investor ZhenFund, and Xu Ying, Executive Partner of Mobike-investor Vertex Ventures talked about where they see the bike war heading. “We cannot say if there will be a merger between these […]
A moral in Ofo’s rise and fall: ‘It is dangerous to violate common sense.’
Say goodbye to Facebook, Twitter, and Instagram and welcome your new favorite apps. Here is everything you will need to navigate your China life. 1. Communication: WeChat (微信) The app to rule them all, WeChat is the very definition of indispensable in China. This is where you will connect with your friends, communicate with your […]
You must have noticed the boom bike-rental companies in China as an increasing array of rainbow colored bikes mushrooming on streets across the country. Endless financing rounds from big names like Tencent, Didi, and Foxconn have been injected into one or another of the startups that involved in a heating field. Despite the initial “wows” […]
Bikes, bikes, and more bikes. China’s streets have been invaded by bike rentals of every hue. More and more Chinese entrepreneurs are sparing no effort to jump on the sharing bandwagon. Now, when you walk around the streets or hang around shopping malls, there’s a high chance that you’ll come across a slew of shared […]
Editor’s note: This was originally a two part report by Li Siyi and Jiang Xiaochuan for Tencent Finance. It has been translated and further edited for clarity and style by Linda Lew. In winning the bike-rental “arms race,” the number of bikes on the street has become the critical factor. China’s largest bicycle manufacturing hub has […]