Competition in bike-sharing sector intensifies
March 6, 2017 Category Travel, Weekly
Competition in China’s bike-sharing sector is set to intensify as the startup Ofo announced it had raised CNY3.1 billion from investors including Digital Sky Technology, while rival Mobile Bike said it had received a strategic investment from Singapore’s Temasek Holdings, bringing the total funds it received in 2017 to more than USD300 million. Three-year-old Ofo has so far accumulated more than 20 million subscribers and has provided more than 300 million bike-sharing rides. Its services are currently available in China, the U.S., the UK and Singapore. In 2016, Ofo accounted for 51.2% of China’s bike-sharing sector, and Mobike accounted for 40.1%.
Recent News
- KURT VANDEPUTTE (UMICORE) APPOINTED CHAIRMAN OF THE BOARD OF THE FLANDERS-CHINA CHAMBER OF COMMERCE (FCCC)
- Webinar: “Knowing Your Chinese Partner” – May 26, 2021, 10 am – 12 am
- EMA starts rolling review of CoronaVac, WHO approves Sinopharm vaccine for emergency use
- The Global Times warns not to politicize the Comprehensive Agreement on Investment (CAI)
- Hainan to become biggest duty-free market in the world