Cloud, Hardware Among Divisions That Outpaced Google’s Soaring HeadcountRead Now

Ofo bicycles available for rent. Photo by Ofo.

China’s Bike-Sharing Craze Gains Speed

By  |  June 8, 2017 10:02 AM PDT
Photo: Ofo bicycles available for rent. Photo by Ofo.

In little more than a year, China’s city sidewalks have become crowded by the brightly hued bicycles of dozens of rival bike-sharing startups. As the bikes lure throngs of riders, investors have taken notice: The two largest bike rental companies, Ofo and Mobike, have raised a combined $1 billion from funders, including Yuri Milner’s DST Global and Sequoia China.

While investors are attracted by the companies’ growing revenue from rides, they are equally interested in the potential for generating cash from advertising on the apps that consumers open to use the bikes. As tens of millions of users generate hundreds of millions of views, the companies’ mobile apps deliver traffic that is unusual for an offline product.

Get access to exclusive coverage
Read deeply reported stories from the largest newsroom in tech.
Latest Articles
 
startups crypto
2023 M&A Preview: Deals Could Be On Tap for Disney, Zoom Video, Vice Media
Art by Mike Sullivan
With just a month left on the calendar, 2022 could wind up being the worst year for U.S. mergers and acquisitions since 2017. But a barrage of deals could begin next year as investors and executives adjust to a new economic normal, bankers, lawyers and investors told The Information. A number of factors could spur deal-making. Investors are likely to get more clarity on interest rates,...
Latest Briefs
 
Elon Musk claims Neuralink human trial is six months away
TSMC to Make More Advanced Chips in U.S. Plant
Sam Bankman-Fried Denies Knowingly Dipping Into Customer Assets
Stay in the know
Receive a summary of the day's top tech news—distilled into one email.
Access on the go
View stories on our mobile app and tune into our weekly podcast.
Join live video Q&A’s
Deep-dive into topics like startups and autonomous vehicles with our top reporters and other executives.
Enjoy a clutter-free experience
Read without any banner ads.
Charlie Bell. Photo via Microsoft
Exclusive microsoft amazon
A Former Amazonian Hits Bumps in Push to Make Microsoft More Secure
When Microsoft last year recruited Charlie Bell, a top product engineering executive at Amazon Web Services, it was a major coup for the software giant.
Art by Clark Miller
The Big Read
‘I’m Licking My Chops. I Know It’s Going Down’: The Pissed-Off Crypto Traders Who Predicted—and Profited From—the FTX Implosion
Ishan Bhaidani had been patient for over a month, waiting for blood in the water. Now was his moment.
Data Point google
Where Google Has Grown
Alphabet has doubled the headcount in its Google Cloud unit since early 2019, according to data obtained by The Information, outstripping Alphabet’s overall hiring growth.
Art by Clark Miller.
Gift Hunting culture
The Information’s Top Tech-Adjacent Gifts for 2022
After the roller-coaster ride of the past month, everyone needs a little retail therapy. So, in honor of Black Friday and the upcoming holiday season, we’ve put together our annual gift guide, asking The Information’s staffers to share their favorite tech and tech-adjacent purchases of the last year.
Photo by Getty. Art by Mike Sullivan.
Opinion culture
Employees Aren’t the Only Ones Suffering From Burnout
We’re living in a split-screen world when it comes to burnout and the employee experience. On one side are all the investments CEOs and human resources executives have been making in recent years—and especially since the pandemic began—to support employee well-being and mental health.
From left to right: Mysten's founders, Sam Bankman-Fried, Aptos's founders.
startups crypto
Aptos, Mysten Valuations Look Sky-High With FTX Out of the Picture
Before it spiraled into bankruptcy, FTX spent hundreds of millions of dollars splashing out on investments in crypto startups.