The bike rental bubble popped a long time ago. Now, a new group of companies are taking a different approach to their predecessors.
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 […]
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 […]
A moral in Ofo’s rise and fall: ‘It is dangerous to violate common sense.’
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” […]
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 […]
Ofo, China’s latest bike-rental unicorn that Apple CEO Tim Cook paid his tribute to during China visit, is looking beyond the borders of the middle kingdom. “The act of bike-sharing could someday become a lingua franca, connecting people around the world,” said Dai Wei last week at Boao Forum for Asia. The company’s bold global […]
For China’s increasingly picky bike renters, ease of access is one of the key determinants when choosing from a rainbow of similar bikes. After all, there’s no user experience to speak of if the service isn’t available. Because of this, speed is everything for bike rental companies as they scramble to stake their claim. As […]