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September 27, 2016

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Home » Business » Transport

Bike-share is next stop as Didi eyes expansion

By Ding Yining | September 27, 2016, Tuesday | Print Edition

DIDI Chuxing yesterday announced its investment in ofo, one of China’s leading bicycle-sharing platforms.

Didi has invested “tens of millions of US dollars” in ofo and the two companies would collaborate on product development, technology, data and business operations, according to a joint statement issued yesterday.

Users might also be able to access ofo’s bicycle sharing feature within Didi’s application in the future.

Founded in April 2014, ofo claims that nearly 70,000 bikes are shared every day among its more than 1.5 million users in 20 cities on its platform.

Ofo is among a number of startups that are quick and swift in applying mobile Internet technology such as payment and location service to optimize biking resources on campuses and urban areas where public transportation is still sketchy.

“As a part of Didi’s open mobility ecosystem strategy, Didi and ofo will explore strategic cooperation in urban ride-share, including offering quality bike-sharing experience,” the statement said.

Shanghai-based Mobike, a rival of ofo, has gained popularity with its easy-to-use application and little limitation on the location and timing of renting or returning the bike.

Users, mostly students and young professionals, have turned to bike-rental or bike-sharing as a convenient and low-cost last-mile connection between subway and bus stations and offices or in the vicinity of campus or residential areas.

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