Ofo joins Taobao, Didi Chuxing, and Meituan to create the ‘big four’ of Chinese startups with over 10 million daily transactions

Emerging bike sharing startups are bringing Chinese people back onto these two-wheel vehicles.

Chinese bike-sharing giant ofo on Tuesday announced that it has recently seen 10 million daily rides.

It’s worth reflecting on the enormity of that figure. Ofo further claims that it has become the fourth Chinese internet platform to see 10 million daily transactions, after Taobao, Didi Chuxing, and Meituan.

So far ofo has connected more than 2.2 million bikes in 43 cities, according to the company.

The startup has made a series of strategic moves recently: On March 1, it raised USD 450 million in Series D financing. Early this month, the startup, along with smart bike manufacturer 700Bike, unveiled a specially designed sharing bike, ofo Curve. Last week, it joined hands with Ant Financial to test deposit waivers in Shanghai.

Also Read: Ofo announces deposit free rides for users with good Sesame Credit score

In preparation for a worldwide expansion, ofo has launched bike rental services in America, Britain, and Singapore.

Ofo, along with its partner Shanghai Phoenix, China’s leading bicycle maker, on Tuesday unveiled a geared bicycle that will be launched in Singapore. So far, every ofo bike in Singapore has attracted over 14 users.

Mobike, ofo’s rival, on Tuesday announced its formal launch in Singapore, its first full-scale international expansion.

Apart from convenience to riders, the rising bike-sharing sector has also created public chaos, at least in some cities, as riders park these sharing bikes in eccentric or disorderly ways. Local authorities in some Chinese cities have asked these startups to better regulate their parking.

The leading bike-sharing startups, Mobike and ofo, on Monday promised that they will not park their bikes on 10 specific streets in Xicheng District in central Beijing.

Also Read: 8 questions about Chinese tech we will see answered in 2017

AllChinaTech reported last week that Shanghai will soon launch an e-map to guide shared bikes’ parking.

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The article Ofo pushes ahead of rivals with 10 million daily rides first appeared on AllChinaTech.

The post Ofo pushes ahead of rivals with 10 million daily rides appeared first on e27.