Will China’s “Uber for Bikes” Finally Beat Uber?

When millions of shared-bikes flooded major cities in China, billions of investments flowed in. In June and July, China’s two largest “Uber for bikes” companies Mobike and Ofo have respectively raised $600 million and $700 million during their latest round financing.

Why are investors so excited about the bike-sharing? From late 2016 until now, the users of bike sharing Apps substantially increased. In June, Ofo's active users have grown 60.6% compared to May, and Mobike rose by 58.1%. Ofo and Mobike have a combined 12 million bicycles, 50 million rides per day and their services are now available in more than 100 cities.

(Source: DataYes RoboR Research Platform)

The booming of the bike sharing market also affects how people transport. According to Mobike’s CEO Davis Wang, more people are transporting by shared-bike than taxis or hailing-ride in many cities of China. From 2017, the active users of Ofo and Mobike have gradually approached the users of China's two biggest ride-hailing companies--Didi Chuxing and Uber China. 

Active Users of China's Sharing Transportation.PNG

(Source: DataYes RoboR Research Platform)

As an emerging industry winning both investments and users, the bike sharing sector has also become a hot topic as shown in the theme database on RoboR Research Platform. 

(Source: DataYes RoboR Research Platform)

Not only popular in China, the shared-bikes have also expanded globally and arrived in countries such as US, UK, Singapore, Italy etc.