Falling Tides of China’s Internet Industry in 2018 — Don’t Go Gentle Into That Good Night
“It was the best of times, it was the worst of times…” — Charles Dickens
Newsletter: What Killed ofo — The Fall of a Unicorn
Here is this week’s roundup of China tech stories.
What Killed ofo — The Fall of a Unicorn
“It will take 3.6 years to get my deposit back,” a reporter from Sina wrote. Ofo users have been seen waiting in line in front of the company’s headquarters at Zhongguancun in Beijing for the past few days. The harsh winds of the Beijing winter didn’t stop them from getting their deposit back.
Mobike Partners with Louis Vuitton to Provide Location-Based Services
On Nov. 15, Mobike announced that it has struck a partnership with Louis Vuitton, the French luxury brand, in launching location-based services.
Ep. 16: Bike-sharing in China, Part 2: Mobike and the Future of Personal Transportation
This episode of TechBuzz China is our second of two focused on bike-sharing in China.
Ofo and Didi Respond to Acquisition Negotiation Rumors
Ofo dispelled rumors on July 30 that its negotiation with DiDi Chuxing is soon to come to a close.
Ep. 15: Bike-sharing in China Part 1: Ofo’s Wild Ride
The Internet age has brought with it the “New Four Great Inventions” of China: high speed trains, scan-and-pay mobile payments, bike-sharing, and ecommerce. This week’s episode is the first in a two-part story on bike-sharing
Ofo to Lay Off 70% of U.S. Workforce and Shut Down Operations in Multiple U.S. Cities
The Chinese bike-sharing startup ofo confirmed with Quartz that the company is laying off employees in its North American marketing, communications, and engineering teams, along with its recent withdrawal from other markets.
Mobike Launches Motorized E-Bike for Sharing, Refunds $150 Million
Mobike, one of the world’s largest bike-sharing companies, has just launched its new pedal-assisted electric bikes as well as a deposit refund plan at the launch event on July 5.
Possible Allocation of 10 Billion RMB in User Deposit by Bike-Sharing Platform ofo
On the morning of June 11, Caixin.com revealed that, ofo, the Beijing-based bike-sharing platform, has a 1.5 billion yuan ($234.2 million) deficit with only 3.5 billion yuan left in user deposit.
ofo in Deep Trouble? Co-founder Denies Rumored COO Resignation and Layoff
Radical personnel changes happened to ofo senior management including a massive layoff, according to Chinese media reports. Zhang Yanqi, COO of ofo reportedly resigned and the overseas sales department which he led was dissolved at the same time.
Mobike’s Shared Cars to be Launched on the Bike-Sharing App Deliverable in October
China’s bike-sharing giant, Mobike Technology Co., unveiled its new shared car on April 19 in Beijing. Manufactured by Xinte Electric, a local electric car company out of the Guizhou province of China, the new shared automobile is called “DEV1 shared version”.
ofo Rejects Didi’s Acquisition and Insist on “Fight Until the End”
Dai Wei, the CEO of bike-sharing platform ofo, turned down a potential takeover by Didi Chuxing and called on employees to “fight until the end,” according to South China Morning Post.
Interview with the founder of Yulu: We are not just a bike-sharing company
Bike-sharing certainly does not only apply to China. Many Indian companies are now exploring this new business model, with some key similarities and differences between the established Chinese firms such as Ofo and Mobike. Yulu is an Indian bike-sharing startup launched about 3 months ago.
ofo Raises $866M In Series E2-1 Financing Round
Chinese bike-sharing company ofo announced the completion of its series E2-1 round of financing led by e-commerce giant Alibaba, raising $866 million. Haofeng Group, Tianhe Capital, Ant Financial and Junli Capital also participated in the investment.