While Ofo’s legal troubles pile up, millions of users are reportedly still waiting for their deposits.
Mobike, a major Chinese bike-rental company, has just placed their first batch of bikes in the capital of the United States as part of its ambitious global expansion plan. Closely following its largest rival ofo’s footprint, Mobike chose Washington D.C. as the first city in America to start running its business, whereas ofo just a month ago […]
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.
The Chinese bike rental firm is reportedly preparing for its bankruptcy reorganization plans.
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 […]
Cash-strapped Ofo could try wheeling its business down another path.
Germany has become the latest market from which Chinese bike-sharing firm ofo will make an exit. The company, which has been plagued by rumors of a cash crunch over the past few months, has adjusted its overseas operations in line with its plans to focus on priority markets. ofo has begun scaling back its international operations […]
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 […]
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 […]