Editor’s note: A version of this post first appeared on Yicai Global, the English-language financial news service of Shanghai Media Group. Yicai Global is one of just two dedicated Chinese news feeds connected to the Bloomberg terminal. Ofo, one of China’s many bike-rental brands, will be incorporated into Didi Chuxing, the world’s largest ride-hailing platform, according […]
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The saga of the “bike-rental company that wasn’t” continues
Kala Danche (卡拉单车) is back in business. As you may recall, last week we reported that the company had lost over 75% of their bicycles in less than 20 days of operation. Because of that, their only investor made a quick exit, taking all the user deposits with him and triggering a cascade of questions […]
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Ofo’s overseas operations show signs of cash crunch
More signs show that ofo’s cash crunch not only affect its domestic business but also its global expansion plans. The troubled bike hire giant has launched a warehouse sale of its bikes to downsize its operation in Singapore, a source with knowledge of the matter told TechNode. The ofo bikes on sale are sold brand […]
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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 […]
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Beijing drafts regulations mandating smart locks for bike-rentals in the city
The Beijing government is soliciting public opinion on draft guidelines aimed at reining in the disorderly expansion of the city’s bike-rental sector, local media is reporting (in Chinese). The draft guidance provides that rental bikes should meet national and industry standards, and requires rental bikes should be equipped with smart locks and the satellite positioning system. […]
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Ofo announces partnership with China’s GPS for smart locks
Ofo has announced a strategic partnership with BeiDou Navigation, a Chinese government-backed sattelite positioning system, that will see ofo bikes equipped with Beidou-enabled smart locks, our sister site TechNode Chinese is reporting. Under the agreement, ofo’s bikes furnished with the BeiDou-enabled smart lock will be first launched in Beijing, Tianjin and Hebei province. In addition, users […]
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Ofo announces deposit free rides for users with good Sesame Credit score
Chinese bike-rental company Ofo announced on Thursday (in Chinese) a strategic cooperation deal with Sesame Credit, a social credit scoring system developed by Ant Financial Services Group. Ant Financial is a subsidiary of Alibaba and operator of Alipay and other Alibaba-backed financial services. Under the deal, new Ofo users with a Sesame Credit score of 650 […]
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Video: Behind-the-scenes at one of ofo’s largest bike makers
For China’s increasingly picky bike renters, ease of access is one of the key determinants when choosing from a rainbow of similar bikes. After all, there’s no user experience to speak of if the service isn’t available. Because of this, speed is everything for bike rental companies as they scramble to stake their claim. As […]
