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 […]
China’s transportation industry is experiencing a swift change of powers for both two-wheel and four-wheel mobility services
Uber has no plans to bring its bike rental scheme to China but it is considering other Asian countries.
The company started registering a series of trademarks back in April.
Updated 23 Jan 2017: TechNode Chinese has reached out to Hellobike, Fosun Capital and Hellobike’s early-stage investor GGV, but neither has confirmed the news. Chinese bike rental firm Hellobike (哈罗单车) is going to complete $1 billion worth of round from Ant Financial (an affiliate company of Alibaba Group), Fosun Capital, and some other existing investors, people familiar […]
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.
Chinese ride-hailing behemoth Didi is beta-testing its electric bike rental service in South China, a person with knowledge of the matter told TechNode. Didi is said to have won the initial support of at least three cities. The firm is expected to develop its own bike rental brand, or potentially a separate app, with an access […]
Cash-strapped Ofo could try wheeling its business down another path.