Ofo’s headquarters have shifted as it faces a reported cash crunch.
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Posted inOn the Cusp
Ofo rumor mill continues as they battle whispers of bankruptcy
The Chinese bike rental firm is reportedly preparing for its bankruptcy reorganization plans.
Posted inTurf Wars
After Australia, ofo exits Germany amid push into priority markets
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 […]
Posted inHeavy Hitters
ofo’s US fire sale is another spoke in China’s rental-bike wheel
Cash-strapped Ofo could try wheeling its business down another path.
Posted inUp and Comers
China’s first official bike rental bankruptcy leaves RMB 800 million of deposits in limbo
Bike rental company Xiaoming has officially begun bankruptcy proceedings becoming China’s first bike rental company to do so. The decision of the Intermediate People’s Court of Guangzhou, which was in charge of the case, was announced yesterday, July 10th, the Paper reports. Xiaoming (小鸣单车) was part of a big wave of bike rental companies that started […]
Posted inNews
Didi Bike operation was suspended for one day in Shenzhen
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, […]
Posted inNews
Updated: DiDi will have their own bike rental unit after Bluegogo tie-up
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 […]
