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| Company type | Private |
|---|---|
| Industry | Transportation |
| Founded | 2014[1] |
| Founder | Dai Wei |
| Fate | defunct (2020) |
| Headquarters | Beijing, China |
Areas served | |
Key people | Dai Wei |
| Products | Bicycle sharing services |
| Website | www |
Ofo (/ˈoʊfoʊ/), stylised as ofo, was a Beijing-based bicycle sharing company founded in 2014. It used a dockless system with a smartphone app to unlock and locate nearby bicycles, charging an hourly rate for use.
In 2017, it had deployed over 10 million bicycles in 250 cities and 20 countries. The company was valued at up to US$2 billion and had over 62.7 million monthly active users.[2][3][4]
In 2018, Ofo announced massive reduction in operations, including withdrawing from most US cities and from several entire countries. By 2020, facing a large amount of unpayable debt, the company was no longer operating bike rentals.
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- ^ "One Startup Builds $1 Billion Business Out of 15-Cent Bike Rides". Bloomberg News. February 28, 2017. Retrieved March 11, 2017.
- ^ Lazo, Luz (October 9, 2017). "Chinese bike-share giant Ofo is rolling into D.C." The Washington Post. Retrieved October 27, 2017.
- ^ Tao, Li (July 24, 2017). "Parents of ofo's bike user sue company for negligence after accident". South China Morning Post. Retrieved October 27, 2017.
- ^ "Chinese bike-sharing firm Ofo raises $866 million led by Alibaba". Cnbc.com. March 13, 2018. Retrieved July 18, 2018.