Ofo has released a revamped app featuring e-commerce offerings on JD.com and Tmall through which users can ‘earn’ back their deposits by shopping rebates.
A moral in Ofo’s rise and fall: ‘It is dangerous to violate common sense.’
The court found that Ofo has no assets, including real estate, investments, or vehicles.
Bike companies have a longer time for implementation than previously announced.
An industry source says that despite the application, the company may not have begun legal proceedings.
All of China’s most visible mobility players have undergone significant change over the last 12 months.
Users can convert their deposits to virtual coins to buy everyday items such as coffee or wine.
While Ofo’s legal troubles pile up, millions of users are reportedly still waiting for their deposits.
Records publicized on Wednesday show the extent of Ofo’s insolvency, which has affected millions of users.
Like Ofo, car rental companies face an uphill battle to break even, let alone turn a profit.