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 ...

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.

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 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.