People use mobile payment to rent Ofo bikes, a bike sharing service in Shenzhen, China. Photo: SCMP
Bike-sharing firm Ofo's dramatic fall from grace a warning to China's tech investors
- Ofo’s plight is a warning for China’s tech investors, who have ploughed billions of dollars into loss-making businesses such as bike sharing and ride hailing
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Bike-sharing services
People use mobile payment to rent Ofo bikes, a bike sharing service in Shenzhen, China. Photo: SCMP