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

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

Topic |   Bike-sharing services

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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
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