Foshan will require Mobike, ofo, and other bike rental companies to hand over users blacklisted for bad parking.
ofo raises $866 million in latest funding round led by Alibaba
The news of ofo’s E2-2 round comes amid rumors of acquisition by Didi Chuxing.
Ofo’s headquarters have shifted as it faces a reported cash crunch.
The Chinese bike rental firm is reportedly preparing for its bankruptcy reorganization plans.
Cash-strapped Ofo could try wheeling its business down another path.