As the bike-rental craze cools down, so do Chinese firms’ ambitious globalization plans.
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Posted inWith Chinese Characteristics
Chinese city wants to regulate bike rental platforms with social credit system
Foshan will require Mobike, ofo, and other bike rental companies to hand over users blacklisted for bad parking.
Posted inNews
Meituan-Dianping rumored to acquire Mobike for $3.7 billion
Editor’s note: Rumors are rife in China, especially so in a hotly contested area like transportation and O2O services. This news is unconfirmed and the veracity of Mobike’s financial and operational situation as outlined is unclear. Update 10:02 04 Apr 2018: The purchase has been confirmed by multiple sources. Follow our coverage here. Rumors of […]
Posted inNews
Global bike rental is about to get even bigger: Cheetah Global report
Cheetah Global has come out with freshly-minted statistics on the state of the bike rental economy in the world. Public bicycles were first started in Europe but have seen their biggest success in the East starting from China’s dockless bike systems ofo and Mobike. According to the global distribution of active users gathered by Cheetah […]
Posted inNews
ofo announces $866 million funding round led by Alibaba amid cash strain rumors
ofo raises $866 million in latest funding round led by Alibaba
Posted inHeavy Hitters
Ofo said to complete a new round of financing led by Didi and Ant Financial
The news of ofo’s E2-2 round comes amid rumors of acquisition by Didi Chuxing.
Posted inOn the Cusp
Ofo moves its Beijing headquarters in midst of cash crunch
Ofo’s headquarters have shifted as it faces a reported cash crunch.
Posted inTurf Wars
Some ofo users can’t unlock bikes from Didi app
Amid rumors of ofo’s acquisition by Didi Chuxing, users are encountering errors when attempting to rent the former’s bicycles through the ride-hailing giant’s app. According to the local media, an error is displayed within the app when scanning an ofo bicycle’s QR code. The message says that the problem has been partially repaired, but Didi cannot resolve […]
Posted inOn the Cusp
Ofo rumor mill continues as they battle whispers of bankruptcy
The Chinese bike rental firm is reportedly preparing for its bankruptcy reorganization plans.
Posted inHeavy Hitters
ofo’s US fire sale is another spoke in China’s rental-bike wheel
Cash-strapped Ofo could try wheeling its business down another path.
