APPLE CEO TIM COOK VISIT BIKE-SHARING COMPANY CHINESE.
APPLE CEO TIM COOK VISIT BIKE-SHARING COMPANY CHINESE.
Apple CEO Tim Cook said Tuesday in Beijing, during a visit to Ofo, one
of about 30 Chinese companies that compete for market share and
investor money.
Cook took a ride on one of the company's signature yellow bikes, met with its founders, including CEO Dai Wei, and congratulations in an official Sina Weibo: "Thank you for welcoming me today, l Ofo! Great energy behind your mission to make transportation greener, more efficient and fun! "Mobike raised $ 300 million from Tencent (tcehy), Foxconn (fxcny), and Temasek." Ofo has raised $ 450 million from DST and Didi Chuxing, but economists say there is a reason For which the phenomenon did not come to the United States: this makes no financial sense for the bicycle companies.
The 30 bicycle companies in China today are considering becoming the next Didi Chuxing (who is an Ofo investor). They give virtually their product free to beat the competition and build market share. The problem is, bike sharing is not something like Uber ride-sharing. The more people who join your bike business, the more bikes you have to buy. The more bicycles you buy, the more problems like theft and abandoned bikes away from downtown begin with the material.
Apple CEO Tim Cook said Tuesday in Beijing, during a visit to Ofo, one
of about 30 Chinese companies that compete for market share and
investor money.Cook took a ride on one of the company's signature yellow bikes, met with its founders, including CEO Dai Wei, and congratulations in an official Sina Weibo: "Thank you for welcoming me today, l Ofo! Great energy behind your mission to make transportation greener, more efficient and fun! "Mobike raised $ 300 million from Tencent (tcehy), Foxconn (fxcny), and Temasek." Ofo has raised $ 450 million from DST and Didi Chuxing, but economists say there is a reason For which the phenomenon did not come to the United States: this makes no financial sense for the bicycle companies.
The 30 bicycle companies in China today are considering becoming the next Didi Chuxing (who is an Ofo investor). They give virtually their product free to beat the competition and build market share. The problem is, bike sharing is not something like Uber ride-sharing. The more people who join your bike business, the more bikes you have to buy. The more bicycles you buy, the more problems like theft and abandoned bikes away from downtown begin with the material.
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