When was OFO founded?

March 26, 2014
Ofo/Founded

Why did OFO fail Singapore?

Feb 14, 2019: LTA suspends Ofo’s licence, citing the company’s repeated failures to comply with regulations. Ofo had failed to implement the QR-code system for parking and did not reduce the size of its fleet to the stipulated limit of 10,000.

Does Mobike exist?

The Classic Mobike, or “Mobike”, is the standard variant of Mobike bicycles.

Do Chinese still ride bicycles?

There are around a half a billion bicycles in China—about 1 bicycle per household—more than any other country but this was down from from 670 million in the 1990s. There are seven million registered bicycle riders in Beijing and 6.5 million in Shanghai. In most places bicycles outnumber cars at least 10 to 1.

Why did Ofo leave Singapore?

Two vendors in Singapore complain that the company owed them about S$70,000. Jan 4, 2019: GrabCycle gives up its sandbox licence, choosing instead to focus on a shared electric scooter service. Jan 14, 2019: LTA’s QR code-based geo-fencing solution comes into effect.

How much does Ofo cost?

The price of ofo passes, which allow users to rent ofo bicycles for flat fees over one to three months, has changed as well. A 30-day ofo pass will now cost $8.99, up from $6.99. A 60-day pass will cost $16.99, an almost $2 increase from $15 previously. A 90-day pass, which used to cost $25, now costs $26.99.

What happened Mobike Singapore?

Mar 12, 2019: Mobike submits application to LTA to surrender its bicycle-sharing licence, but employees were not told beforehand that the company intends to cease operations. Mar 13, 2019: Deadline for Ofo to remove all its bicycles from public spaces.

Is SG Bike still operating?

SG Bike. With no deposit to pay (or lose if they go out of business!), SG Bike is still providing pedal power options all over Singapore. We love that this one also has a ride pass so you can ride bikes as much as you want.

Is Mobike making money?

But is mobike really a money-making machine? According to the company’s own projections, its annual profit may be as much as RMB1. 6 billion yuan; that’s more than the profit level of 90\% of A share listed companies! “Own nothing, reject nothing and be responsible for nothing.”

What happened to Mo bikes?

Chinese start-up Mobike has announced that it lost more than 200,000 bikes in 2019. The company said in a blog that 205,600 “dockless” bikes were lost to theft and vandalism. In 2018, it pulled out of Manchester after a series of incidents.