Didi invests ‘tens of millions’ in Chinese bike-sharing platform Ofo
SHANGHAI: Chinese ride-hailing service Didi Chuxing on Monday said it has invested “tens of millions of dollars” in the country’s largest bicycle-sharing platform ofo, as it looks to provide its users with more transportation options.
Didi, which bought the Chinese unit of rival Uber Technologies Inc’s last month, said it would look to include bicycles as an option on its app as part of plans to develop a transport ecosystem. Users of its app can currently only book taxis and private cars.
“If it’s only two or three miles away, or the traffic is crowded, I can just ride a bike and go,” Didi spokesperson Liang Sun said.
In recent decades bicycles have waned in popularity as China’s middle classes turned to cars. But interest has revived as city streets become clogged with traffic and more people become health-conscious amid rising obesity levels.
Ofo, whose name resembles a bicycle, was originally established as a student start-up project in the campus of Peking University two years ago.
This article was originally published on EconomicTimes
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