ã€Global Science and Technology Report】 US CNBC website focused on China's shared bicycle boom on July 18. The report pointed out that investors are actively entering the field. As the two major players in the market, Mobai and ofo have recently received a total of US$1.3 billion in financing. The report also said that the two companies hope to bring this popular commercial activity into the US market.
Jeffrey Towson, a professor at Peking University, said that the use of shared bicycles is very large and appears to be stable. But he also pointed out some potential areas of concern, such as entering the market without any real obstacles, he said, which may limit the long-term profitability of the sharing bike company. He believes that sharing a bicycle is a good business model, but its economic status is not as good as Drip, Uber, and Airbnb. "Of course, they are still in the early stages of development, and business models are still changing. Successful companies such as Google and Facebook didn't explore their business models until later, and it was just a consumption phenomenon at the beginning," he said.
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Another concern for investors is the signs of excess market share of shared bicycles. Some circulated photographs are displayed in China, and shared bicycles are piled up on the street. When interviewed by CNBC, a spokesman foro said that they are developing smart locks and location services to solve such problems.
Even if these obstacles exist, both companies are seeking international opportunities. Mobike has expanded from Beijing to Shanghai, Japan and the United Kingdom, and hopes to enter the US market. And ofo has the same plan, and has already conducted a trial in California. However, the report pointed out that if the two Chinese companies' bicycle services were to enter the US market, they would face real competition.
According to reports, the existing shared bicycle in the US market is Motivate. The company has established shared bicycle services in nine metropolitan areas including New York. The company said they are profitable. The company also operates the Citi Bike rental bike program, where users can rent a car from any fixed site in the entire city. In May of this year, the average daily Motivate shared bicycle was used 50,000 times. The service's full-day fare is $12. In addition, new ventures such as LimeBike, which are backed by venture capital institutions, will also become another major competitor of China's shared bicycles in the United States. (Internship Compilation: Wang Yi reviewer: Tan Liya)
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