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Sunday, January 6, 2019

Chinese Bike-Sharing Ofo, Mobike and Hellobike Adapted to The Shifting Battlefield


Bike-sharing startup is more interesting if we see how they adapt the market demand, Chinese bike-sharing firm Ofo was injected with tons of cash, full of oportunities ahead, As one of startup unicorn from China with billions of dollars from high-profile investors like Alibaba (BABA), Ofo helped pioneer the dockless bike-sharing phenomenon that swept across Chinese cities in recent years. The bikes can be locked and unlocked anywhere via a smartphone app, which means users don't have to return them to designated stations. Its a game changer
But now they are struggling to keep the firm growth, Ofo fended off dozens of copycat rivals, but it now risks becoming the latest casualty of a cut-throat industry. Hordes of angry customers gathered outside its headquarters in Beijing this week to demand refunds. The company and its founder have been put on a government black list for failing to pay debts.
Others Bike-sharing startups in China burned through cash as they rushed to launch services in cities throughout the country and overseas. The chaotic expansion resulted in a string of bankruptcies and huge piles of impounded bikes.
Ofo's rivals have already adapted to the shifting landscape. Mobike was acquired in April by a bigger tech startup, Meituan Dianping, while Hellobike joined forces with digital payments giant Ant Financial. Both Meituan and Ant offer a wide range of services though their apps, which are used by hundreds of millions of people in China. Of course Hellobike automatically recieved more customers
The partnerships gave Ofo's rivals access to more users and also allowed them to offer their users a greater variety of services, such as ride-hailing and food delivery. This is more interesting for Bike-sharing startup

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