The bike rental bubble popped a long time ago. Now, a new group of companies are taking a different approach to their predecessors.
Mobike, China’s major bike-rental company, today launched a new model of its smart bike called “New Lite.” It features a minimalist design, longer lifespan, and lighter weight. The all-new model comes with a stronger bike frame which is 50 percent stronger than European standards and weighs 15.5 kilograms, making it the lightest mainstream bike rental […]
Ride-hailing, bike rental, and food delivery services were all affected.
Despite the positive news, the filing reveals that Hello Inc. still has a ways to go to reach maturity. The company has faced massive losses.
Cheetah Global has come out with freshly-minted statistics on the state of the bike rental economy in the world. Public bicycles were first started in Europe but have seen their biggest success in the East starting from China’s dockless bike systems ofo and Mobike. According to the global distribution of active users gathered by Cheetah […]
The partnerships help the company offer an expanded range of ride services to choose from for users in Beijing and Shanghai.
It is almost two years since Mobike co-founder Hu Weiwei put around 50 bicycles on the streets of Shanghai and drove away. Ofo had a similar beginning, spreading out shared bikes on Beijing’s university campuses. This is how China’s dockless bike rental economy was born—from moves that could easily be branded as crazy. Today, bikes […]
ofo raises $866 million in latest funding round led by Alibaba
Chinese bike rental giant ofo has started selling advertisements on its bikes and apps (in Chinese) in an attempt to boost revenues amid increasing cash strain. The company will launch custom-designed bikes and the bike-body ads will appear in bike wheels, saddle and baskets for clients to reach the public with their messages. Rumors of ofo’s failure […]
So far, more than 1,000 user accounts have been frozen for periods of time ranging from five to 90 days.