Shanghai transportation authorities jointly announced on August 18 that no more new bikes should be placed in the city, taking a firmer stand in its moves to crack down on bike rental services, our sister site TechNode Chinese is reporting. “Upon the announcement of this regulation, all bike-rental companies should place a halt on introducing any […]
Ofo’s headquarters have shifted as it faces a reported cash crunch.
In the second part of a two-part series, we look at Hello TransTech’s role in Alibaba’s all-in-one lifestyle ambitions.
The founder and CEO of the Ofo Dai Wei said that the main source of revenue for Ofo will be the user’s riding costs at the 2017 summer Davos Forum site held on June 28th. (Chinese source) “We now see many people in the street using Ofo, and we are confident that we can make […]
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 […]
After weeks of rumors, Chinese ride-hailing giant Didi Chuxing announced today it has added bike-sharing service from ofo to its app. DiDi users will have direct access to ofo’s bright yellow bikes in the app. As a major investor of ofo, DiDi has poured a combined hundreds of million USD in three financing round of the […]
The race is still on in China’s bike-rental sector. Bike-rental startup ofo and the world’s largest bicycle producer Fushida recently entered into a strategic partnership that will see the latter manufacture 10 million bicycles for ofo every year, local media is reporting (in Chinese). Fushida chairman Xin Jiansheng expected the company’s annual production capacity to top 20 […]
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 […]
A moral in Ofo’s rise and fall: ‘It is dangerous to violate common sense.’