The rate increase is part of parent company Meituan’s broader profitability push.
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Ant Group-backed bike-rental app Hello Inc files for US IPO
Hello Inc’s filing shows that the sector’s few remaining players now seek sustainable growth after reckless expansion in earlier years.
Briefing: Mobike, Hellobike are charging extra in Shanghai suburbs
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.’
Mobike, Hellobike, Didi allowed to bring new bikes in Guangzhou
Beijing and Shanghai have given no indication of whether the bans will be lifted.
Briefing: Ant Financial’s Hellobike follows Mobike, Bluegogo in doubling Beijing rate
Hellobike’s new prices are more expensive than taking the bus in Beijing, which may be a blow to its business model.
NEV fleet logistics startup DST completes Series C1
Two repeat investors participated in DST’s latest fundraise, and well-known Qiming Ventures led its first funding rounds.
Mobike and Bluegogo double rates in Beijing in bid to stay afloat
Other bike-rental companies are considering raising prices, as warmer weather brings a likely rebound in trip numbers.
Crypto lender Babel Finance secures $40 million Series A
Cryptocurrency financial service provider Babel Finance looks to lure investors from traditional finance to the digital assets world.
Briefing: Ofo has 6 months to enforce deposit rules, 14 million await refunds
Bike companies have a longer time for implementation than previously announced.
Briefing: Nonprofit buys abandoned rental bikes for school kids in Myanmar
Discarded bikes are languishing after the rental-bike boom went bust due to high retrieval costs.