The rate increase is part of parent company Meituan’s broader profitability push.
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.’
Hellobike’s new prices are more expensive than taking the bus in Beijing, which may be a blow to its business model.
Mobike was added to WeChat Pay’s interface as a third-party service.
Rising costs for Meituan’s core food delivery business drove fourth quarter losses.
Company’s best short-term strategy is to direct users to its profitable services such as travel.
Meituan’s Q1 results show that its more disciplined expansion strategy is paying off.
Li Shubin will become head of the Meituan app division, a key position for driving growth for the parent company.
Didi’s struggles in the bike-rental market led to a launch of its own brand, Qingju.
So far, more than 1,000 user accounts have been frozen for periods of time ranging from five to 90 days.