The bikesharing trend has really gotten rolling in many cities around the world. Whether or not you’ve ridden one, you’ve surely seen them: Fleets of identical bikes, often colorful, clustered at rental docks where anyone from commuters to tourists can pay the fee to take...
Ofo, the Chinese bicycle sharing company, has raised $1 billion or more from Alibaba, the Chinese eCommerce giant, and other investors. According to a report in Financial Times, citing two sources familiar with the deal, the investment brings the company’s value to $3 billion, which...
Shared bike giants Mobike and Ofo deny they used 6 billion yuan ($909 million) of user deposits to support their rapidly expanding businesses. Anonymous sources also allege that both bike sharing companies are suffering from money mismanagement and struggling to pay bike manufacturers. According to...
Bike-sharing has become big business worldwide in a relatively short span of time. Virtually unheard of even a few years ago, these days there are over 1,000 bike-share operations in locations around the globe — and research firm Berger expects that by year 2020, the industry...
April 10, 2018
The bikesharing trend has really gotten rolling in many cities around the world. Whether or not you’ve ridden one, you’ve surely seen them: Fleets of identical bikes, often colorful, clustered at rental docks where anyone from commuters to tourists can pay the fee to take one for a spin. The latest evolution of the trend, […]
July 17, 2017
Bike-sharing has become big business worldwide in a relatively short span of time. Virtually unheard of even a few years ago, these days there are over 1,000 bike-share operations in...
August 03, 2018
Didi Chuxing and Alibaba’s Ant Financial are negotiating a deal for a joint buyout of bike-sharing startup Ofo for $2 billion, according to a new report that cited a source with direct knowledge of the talks. The ridesharing firm and the Chinese eCommerce powerhouse are poised to mark the most recent deal in a wave of consolidations in the […]
December 08, 2017
Ofo, the Chinese bicycle sharing company, has raised $1 billion or more from Alibaba, the Chinese eCommerce giant, and other investors. According to a report in Financial Times, citing two...
December 01, 2017
Shared bike giants Mobike and Ofo deny they used 6 billion yuan ($909 million) of user deposits to support their rapidly expanding businesses. Anonymous sources also allege that both bike...
April 25, 2017
Ofo, the bike sharing startup based in China that was able to obtain Unicorn status recently, announced that Ant Financial, the payment arm of Alibaba, is now an investor. According to...
