Tuesday, December 05, 2017

a mangled pile of bicycles in China, from the south-eastern city of Xiamen, with thousands of bikes from each of the top three bike sharing companies, Mobike, Ofo and the now-defunct Bluegogo.

The large number of cycles on Chinese streets have led to scenes of clogged sidewalks no longer fit for pedestrians and piles of mangled bikes that have been illegally parked.

But the scene in Xiamen appears to be one of the largest amalgamations of discarded bicycles, with trucks unloading bikes from around the city.


China’s third largest bike sharing company, Bluegogo, has reportedly run into financial trouble, amid a wave of busts and consolidations in an industry that took the country by storm this year.

Bluegogo burned through 600m yuan (£68m) in investor funding in the year since it was founded by its youthful CEO Li Gang, deploying 700,000 bikes across cities in China.

At least three other bike sharing companies have also gone bust in recent months, although Bluegogo is by far the largest.


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