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 inNews
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 […]
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 inNews
Ofo investor Allan Zhu rumored to have sold his shares to Alibaba for $3 billion
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, […]
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 inNews
Updated: Cracks appear in DiDi and ofo partnership sparking doubts over ofo’s $700 million funding round
Insiders from ofo have confirmed to local media that ofo’s executive chairman, Chief Financial Officer, and other senior executives went on a “vacation” in July this year. A rift between ride-hailing giant DiDi and bike rental mammoth ofo might be the reason behind the event, Bianews has reported. ofo has since published a statement denying […]
Posted inNews
Ofo hits Australia while Bluegogo struggling to refund deposits
Ofo is taking over another global city: after conducting a pilot program in Adelaide in South Australia, the company is putting their small yellow bikes in Sydney. Ofo also announced that it will double its fleet in Adelaide. On the other hand, its Chinese rival Bluegogo seems to be facing difficulties. The company has denied […]
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 […]
