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07-01-2017, 09:45 AM
I thought this is a little bit out of whack - Started by an ex Uber executive. My intuitive sense is that bicycle sharing are generally for niche areas like campuses, metro stations etc or at regions where there is already a culture of riding bicycles. The culture is been defined by a self-fulfillment sense of "i am going green" by riding bikes more than anything else like necessity. If it is more than necessary, the entry barrier (compared to a car) shouldn't be overwhelming for a bike for an individual, i suppose. Most aspiring people in developing countries and the like, should still prefer to have a car if they can afford it.
China’s Mobike eyes Singapore launch after raising $309 mil in Tencent-led funding
SINGAPORE (Jan 5): China’s bike-sharing start-up Mobike announced it will be launching in Singapore in 2017, following the close of its US$215 million ($309 million) Series D financing round on Thursday.
https://techcrunch.com/2017/01/04/mobike...n-tencent/
http://www.theedgemarkets.com.sg/sg/arti...ed-funding
Despite the big name involvement and large sums, it remains unclear whether these companies can turn a profit when they charge just 1 CNY (approximately $0.15) per hour. Consider that Didi is not profitable despite dominating China’s taxi on-demand industry with 10 million rides per day, and that Uber was burning $1 billion per year in China before agreeing to sell its business there, and the longterm viability of the cycle businesses is unclear.
China’s Mobike eyes Singapore launch after raising $309 mil in Tencent-led funding
SINGAPORE (Jan 5): China’s bike-sharing start-up Mobike announced it will be launching in Singapore in 2017, following the close of its US$215 million ($309 million) Series D financing round on Thursday.
https://techcrunch.com/2017/01/04/mobike...n-tencent/
http://www.theedgemarkets.com.sg/sg/arti...ed-funding
Despite the big name involvement and large sums, it remains unclear whether these companies can turn a profit when they charge just 1 CNY (approximately $0.15) per hour. Consider that Didi is not profitable despite dominating China’s taxi on-demand industry with 10 million rides per day, and that Uber was burning $1 billion per year in China before agreeing to sell its business there, and the longterm viability of the cycle businesses is unclear.