Source:
https://scmp.com/business/companies/article/2125678/video-these-are-casualties-chinas-bike-share-bubble Companies
In video: these are the casualties of China’s bike-share bubble
Thousands of redundant shared bikes laid to rest in the south-eastern Chinese city of Xiamen. Photo: CFP
Bike-sharing firms are among the most talked-about start-ups in China. More than US$2.7 billion has been poured into the sector, which is only about two years old.
Dockless bikes quickly became hugely popular in China, and some 40 companies sprang up to service the new market. But within a few short months of raising tens of millions in start-up funding, many of the new firms crashed.