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China's Mobike eyes Singapore launch
17-05-2017, 11:53 AM,
Post: #21
RE: China's Mobike eyes Singapore launch
Just saw an OFO abandoned near a rubbish chute with all the rubber casings cut open - apparently blokes are now stripping out the metallic cables/wires to sell.

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10-06-2017, 11:34 AM, (This post was last modified: 10-06-2017, 11:35 AM by weijian.)
Post: #22
RE: China's Mobike eyes Singapore launch
I thought the last part was pretty revealing, and brings some understanding about why these Chinese bike sharing startups are getting all the cash, despite the fact that it would only be a losing business. While i don't buy in the argument that these companies will be able to profitably monetize the data it can collect from its users (location/travel tastes), it makes sense for backers who want to integrate bike sharing function into their own ecosystem (Tencent backed Mobike uses WeChat Pay, and Ofo's promotions for those who have good AntFinancial ratings). It definitely make sense to inject (mindless) money in because the end goal is not profit from these bike sharing operations, but to increase the stickyness and the value proposition of their own products/ecosystem.

The startups are entangled in a proxy war between Tencent and Ant Financial, China's largest online financial services firm. At 20 million rides a day, Ofo is becoming a key channel to promote Ant's payment services, such as Alipay. It also linked users to its Sesame Credit system, so those with scores above certain levels can use its bikes without putting in deposits. In the other corner, Tencent's WeChat now allows access to Mobikes via its Mini Programs platform, sparing them the trouble of downloading the app. From there, users pay for their rides with WeChat Pay.

Ofo said to seek US$3b valuation in China funding wars

[HONG KONG] Chinese bike-rental startup Ofo is aiming to raise new funds at a valuation of about US$3 billion, people familiar with the deal say, further inflaming an already pitched competition for capital by startups backed by the country's largest technology firms.

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12-06-2017, 08:13 AM,
Post: #23
RE: China's Mobike eyes Singapore launch
There are cheaper ways to gather data and integrate users into their own payment/e commerce ecosystem.
Giving away bikes(essentially that's what they do) is an expensive way to do so. Proper maintenance and redistribution cost will make it even more expensive and I highly doubt they'll do much of that. Currently it's a pump and dump system.

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08-07-2017, 10:27 AM, (This post was last modified: 08-07-2017, 10:28 AM by weijian.)
Post: #24
RE: China's Mobike eyes Singapore launch
I am definitely seeing a visible difference around the neighbourhood, with many colorful bikes around.

On another note, I work in a light industrial area and there are many foreign workers who own bikes, they don't take these rental bikes. It could be sunken costs in general for them for 1 of the largest bike-using community in SG (the foreign workers). But they would have a lower entry barrier in owning their own bike anyways, rather than spending close to 1sgd/day (no promotions) to rent. These bikes are just going to attract casual users than anything.

Bike-sharing war in S'pore goes up a gear

Ofo raises US$700m in Series E; Mobike unveils new bikes; oBike says it has local advantage

COMPETITION is hotting up among bike-sharing companies in Singapore - in a manner reminiscent of the extravagant war among ride-sharing apps here in their heyday, and prompting fresh concerns about the sustainability of the sharing economy.

Bike-sharing, a scheme popularised in China in the last few years, makes available bikes for shared use to individuals on a very short-term basis. It allows them to borrow a bike from point A and return it at point B, usually without the use of a docking station and at an affordable rate.

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26-07-2017, 11:24 PM,
Post: #25
RE: China's Mobike eyes Singapore launch

As discussed, theft is serious problem. OTOH it's not an issue with Uber. The model is drastically different. I think sharing economy is picking up, but rental disguising as sharing does not
Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give. –William A. Ward

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