The Chinese bike rental firm is reportedly preparing for its bankruptcy reorganization plans.
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 […]
Ofo investor Zhu Xiaohu (also known as Allen Zhu) from GSR Ventures is rumored to have sold his shares in ofo to Alibaba for $3 billion (in Chinese). The source is Zhu’s brother-in-law Ou Chengxiao who revealed Zhu’s plans at a public event a few days ago. According to a transcription of Ou’s speech circulating online, […]
Cash-strapped Ofo could try wheeling its business down another path.
Hundreds of unlocked ofo rental bicycles have been found buried under construction waste in Chengdu. The bikes were in miserable conditions with deformed tires, broken chains, and damaged seats, but were fairly new, produced as early as March this year. The incident was reported to Chengdu Wuhou Police and the police is investigating, Chinese media The […]
Chinese taxi hailing company Didi’s bike rental service, Didi Bike (青桔单车, meaning green tangerine bike in Chinese), was suspended for one day for not obeying the local law, Chinese media Shenzhen News is reporting. Bike rental companies hugely spread out last year, filling the Chinese streets with rental bikes. In order to manage rental bicycles, […]
Updated January 9, 2018: This article was updated to include a statement from Didi. Details have been released on the Didi Chuxing and Bluegogo tie-up. According to sources quoted by Pingwest (in Chinese), negotiations between the two mobility firms have been completed but Didi will only take over a part of Bluegogo’s business. Didi plans […]