Cash-strapped Ofo could try wheeling its business down another path.
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 […]
Niu’s app, which connects users with their scooters, now has 457,000 registered users.
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 […]
Hundreds of unlocked ofo rental bicycles have been found buried under construction waste in Chengdu. The bikes were in miserable conditions with deformed tires, broken chains, and damaged seats, but were fairly new, produced as early as March this year. The incident was reported to Chengdu Wuhou Police and the police is investigating, Chinese media The […]
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, […]
Meituan has brought optimism among investors after disappointing performances of other Chinese tech stocks.
China’s ride-hailing market might be in for another stir. Former chairman of Baidu’s food delivery platform Baidu Waimai, Gong Zhenbing, is moving on to become the CEO of ride-hailing platform Yidao Yongche, The Paper is reporting (in Chinese). Yidao went through a rough period in April and May last year after a cash squeeze that […]
China’s mobile app industry was brewing in 2017, a new research from Jiguang Data released on Tuesday has shown (in Chinese). The report titled 2017 Mobile Internet Industry Inventory App List has brought insights into which of China’s top 1000 mobile apps caught users’ attention during this year. The list was compiled according to market […]
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, […]