Statistics from the Cheetah big data shows that ofo and Mobike still occupy the majority of the bicycle rental market in the third quarter of 2017, Chinese media Lanjing TMT is reporting. As the weather turns colder, bike-sharing apps may witness usage decline compared to the second or third quarter as many people do not ride […]
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Ofo in talks to raise new financing of more than $1 billion
Chinese bike rental company ofo is in talks to raise new financing of more than $1 billion, Reuters is reporting. Ofo’s co-founder Yang Pinjie, now based in the Moscow, told Reuters that the amount of financing may exceed $1 billion, but refused to disclose that what banks were involved in the talks. September 22nd was World […]
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Exclusive: Bluegogo VP confirms leaving the company months ago, staff waiting for salary for months
Bluegogo is going bust. Staff from the bicycle rental company broke the news yesterday that the company is dissolving and salary payments will be delayed until February 10, 2018. TechNode’s Chinese sister site has confirmed that the salaries are indeed delayed and that the company is in a poor state (in Chinese). Even more shocking is that […]
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ofo pedals their way into four European countries on World Car Free Day
The globalization competition between ofo and Mobike, two of China’s top bike rental giants, is reaching a feverish pitch. Instead of revealing the entrance to overseas markets one by one, ofo announced today that it will be launching in a cluster of four European countries of Russia, Czech Republic, Italy and Netherlands on the September […]
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Gold bike startup looks for buyer as users demand deposits back
Crowds of people descend on the Coolqi bike hire scheme’s head office in Tongzhou to get their deposits back as Coolqi founder and CEO Gao Weiwei (高唯伟) tells our sister site that the company is not bankrupt, but that he has been removed as CEO (in Chinese). The company’s WeChat payments have been frozen and it is […]
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Shanghai just says “No” to more dockless bikes
Shanghai transportation authorities jointly announced on August 18 that no more new bikes should be placed in the city, taking a firmer stand in its moves to crack down on bike rental services, our sister site TechNode Chinese is reporting. “Upon the announcement of this regulation, all bike-rental companies should place a halt on introducing any […]
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Ofo launches in US capital, hopes to conquer US market within a year
Ofo, China’s leading bike rental company, announced October 10 its launch in Washington, D.C., following Seattle and Massachusetts. The fast-expanding firm will deploy 400 of its yellow bikes over the course of its first week, as the local government only allows 400 bikes on the streets during the “demonstration stage.” The local regulator appears to be extra […]
