Advertisement

Meituan Dianping-owned Mobike to pull out of some Asian countries, evaluate other markets

  • Mobike has laid off staff and contractors in Singapore, Thailand, Malaysia, India and Australia

Reading Time:1 minute
Why you can trust SCMP
A man rides a tricycle transporting Mobike shared bikes near Wangfujing Street in Beijing on October 15, 2018. Photo: Reuters

Chinese dockless bike-sharing company Mobike said on Monday it will pull out of some Asian countries and re-evaluate its units in other overseas markets amid a wide-scale contraction in the market and the bankruptcy of top competitor Ofo.

Advertisement

The Beijing-based firm, which is backed by Tencent Holdings, has launched its signature orange bikes in markets including Australia, Europe and the United States.

The company said it will lay off at least 10 staff as part of its restructuring plan.

“We are currently seeking to optimise our international business. On that principle, Mobike will close in some countries in Asia ... At the same time, we will continue to evaluate other countries and regions,” the company said.

Advertisement

Online technology news site TechCrunch earlier reported that Mobike laid off its Asia-Pacific operations team, including staff and contractors in Singapore, Thailand, Malaysia, India and Australia.

loading
Advertisement