GSR Ventures, an investor of Ofo says a merger of Ofo and Mobike is the only way for China’s two biggest bike-sharing operators to become profitable. Photo: AP
GSR Ventures, an investor of Ofo says a merger of Ofo and Mobike is the only way for China’s two biggest bike-sharing operators to become profitable. Photo: AP
Bike-sharing services
Tech /  Big Tech

China’s bike-sharing giants could merge to stop the cash burning

Ofo is reportedly looking at raising US$1 billion in another financing round, less than two months after it raised US$700 million in July

Li Tao
Li Tao

Updated: 11:03pm, 28 Sep, 2017

Why you can trust SCMP
GSR Ventures, an investor of Ofo says a merger of Ofo and Mobike is the only way for China’s two biggest bike-sharing operators to become profitable. Photo: AP
GSR Ventures, an investor of Ofo says a merger of Ofo and Mobike is the only way for China’s two biggest bike-sharing operators to become profitable. Photo: AP
READ FULL ARTICLE