As the bike-rental craze cools down, so do Chinese firms’ ambitious globalization plans.
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
Minority shareholders have reportedly begun receiving documents about the deal.
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.