World’s first “non-docking” bicycle-sharing platform, Ofo rents out bikes that are unlocked through its app and returned anywhere for the next user at RMB 1/hour.
Why
Alleviate public transport pressure
Rapidly growing urban populations are putting public transport systems under pressure in cities worldwide.
Environmental concerns
As environmental concerns mount, people are looking for more sustainable transport alternatives to cars.
Troublesome to return bikes
Earlier bike-sharing services require users to return bikes to stations, causing inconvenience, high administrative costs.
Market
49.65 million
Forecast number of bike-sharing users in China in 2017, doubling by 2019. Globally, bike-sharing is expected to generate revenue of US$5.8 billion by 2020 (20% yearly growth).
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