Months after dropping a hint for taking its services to overseas market, China’s top bike-rental startup Mobike announced today the launch of its hugely popular bike-sharing service in Singapore, the first stop of Mobike’s global expansion. Mobike’s operation in Singapore features its typical scan-and-go service. Singapore residents can now ride a Mobike by downloading the […]
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[Podcast] China Tech Talk 03: Bike sharing business models – Mobike and ofo
John and Matthew go deeper on bike sharing and respond to some listener feedback. Questions they answer: How many bikes are on the streets? How many users do Mobike and ofo have? How much are these two companies worth? How do they generate revenue? What are some potential monetization strategies? How do Mobike and ofo […]
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[Infographic] The differences between Mobike and Ofo
As the ride-hailing wars have disappeared, the latest war is bike-sharing (more like bike-rental), with Mobike and Ofo leading the pack. In case you weren’t sure how exactly they are different, WakeMeChat has made this handy infographic: Mobike’s technology seems to be a bit better, but how either company is actually making money is still a […]
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Mobike announces “Magic Cube,” an AI made from its mountains of user data
Bike-rental startup Mobike announced yesterday the launch of its artificial intelligence (AI) data monitoring platform dubbed “Magic Cube”, in its renewed efforts to fight against its rivals, our sister site TechNode Chinese is reporting. This is the first time that AI has found its application in the bike-rental sector. “Magic Cube” is able to make […]
Posted inHeavy Hitters
Ofo said to complete a new round of financing led by Didi and Ant Financial
The news of ofo’s E2-2 round comes amid rumors of acquisition by Didi Chuxing.
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Tencent ups the bike-rental ante with largest funding round so far
Mobike today announced that it has raised over US$600 million in Series E, the largest ever financing round in the bike-rental industry. This landmark round, putting the company at a valuation of between US$2 billion and US$3 billion (in Chinese), was led by existing investor Tencent and joined by Sequoia China, TPG, and Hillhouse Capital, among […]
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US firm says ofo leading bike rental race in China
The public spat between Tencent’s CEO Pony Ma and GSR Ventures managing director Zhu Xiaohu over who is the most popular bike rental platform has added fuel to China’s already heated bike rental industry. The discussions between investment moguls make it difficult for onlookers to dig up into the correct figures in the burgeoning market. Even […]
Posted inOn the Cusp
Court froze RMB 1.45 million of Ofo assets this month
While Ofo’s legal troubles pile up, millions of users are reportedly still waiting for their deposits.
Posted inTurf Wars
Ofo’s “darkest hour” becomes gloomier as Didi acquisition rumors swirl again
Chinese ride-hailing giant Didi Chuxing is reportedly closing an acquisition deal of ofo, the last remaining major independent player in China’s bike-rental industry, local media reported citing people familiar with the matter. The source disclosed that Didi already sent due diligence team to ofo over the past two to three weeks. The two parties are […]
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China releases first national guidelines for bike rental industry
After several tragic deaths and countless headaches for municipal authorities caused by the bike rental boom, the first guidelines for regulating bike rental for the whole of China have officially been published (in Chinese). The “guiding opinions on encouraging and regulating the development of bicycle rental” were signed by 20 state departments after the draft was […]
