Not so long ago, Chinese bike-sharing firm Ofo was flush with cash and hailed as a game-changing tech startup. Today, it’s struggling to stay afloat.

China's Ofo helped to pioneer an easy-to-use bike-sharing model, but the startup is now on the verge of bankruptcy as it has been under immense cash flow pressures.

Ofo's plight is a warning for China's tech investors, who have plowed tens of billions of dollars into loss-making businesses such as bike sharing, ride hailing and food delivery.

China's bike-sharing craze and the demise of Chinese startup Ofo has left several prominent venture investors on the hook. As much as $2.2 billion in venture money was poured into Ofo within three ...

Ofo, too, donated bikes after the company hastily moved out of the U.S. last year. That’s how Kurt Kaminer, founder of the Bike Share Museum, has gotten the two Ofos to start his collection.

Or if you are a city in Italy, namely Turin, you buy them, weld a stub that goes in the stall of the municipality’s bike sharing, cut away the Ofo lock, and put a blue sticker. Report comment Reply ...

The news comes days after hundreds of Ofo customers showed up at the company’s headquarters in Beijing hoping to get their deposits refunded. According to a document issued Dec. 4 by Beijing’s Haidian ...

Ofo and Obike's near tandem launch comes ahead of a large government bike-sharing project, which is calling for thousands of bikes to be laid out across the city.

In 2018, Ofo ceased operations after funding dried up, leaving its iconic yellow bikes piling up on Chinese streets. Dai has largely stepped away from the public eye since.