In a recent report by the British publication "Daily Mail," Mobike, one of China's fastest-growing shared mobility startups, boasts an impressive 100 million users across the country. The company is now setting its sights on international expansion, with plans to introduce its innovative shared bicycle services to over 200 cities worldwide by the end of the year. Mobike aims to revolutionize the shared bike industry with its distinctive "no-docking" model, which eliminates the need for fixed docking stations and offers users greater flexibility.
This week, at the Fortune Brainstorm Tech conference held in Aspen, Colorado, Mobike showcased a range of colorful bicycles. Despite the presence of several shared bike initiatives already established in major U.S. cities, Mobike Co-founder and CEO Wang Xiaofeng expressed his hope that local authorities would embrace the new concept behind Mobike. "Traditional docked bikes are like desktop computers, while we are more akin to smartphones," he stated during the event. Mobike launched its first bikes back in April 2016, deciding early on to do away with docking stations entirely, making the bikes far more accessible and convenient for users. With no fixed stations or docking points, riders can enjoy unrestricted travel. Additionally, users can easily unlock the bikes via a smartphone app and track their location through GPS systems.
Over the past 15 months, Mobike has expanded its operations into more than 150 cities, deploying six million bicycles. According to Wang Xiaofeng, over 20 million people use Mobike daily, highlighting its growing popularity and importance as a transportation option in many Chinese cities.
Last month, Mobike announced it had secured another round of funding totaling $600 million, led by tech giant Tencent. This marks the largest funding round in Mobike's history, valuing the company at over $1 billion.
Mobike has already begun its international rollout, launching services in two cities in the UK—Manchester—and in Singapore and Japan last month. Wang Xiaofeng noted, "We aim to become a global player." He emphasized that Mobike's bikes can complement existing cycling programs, encouraging more people to take up cycling. In the U.S., the company is currently exploring the local market and engaging in discussions with government officials. Meanwhile, in China, Mobike faces stiff competition from other shared bike providers such as ofo.
With ambitious growth plans and significant financial backing, Mobike is poised to make waves not only in Asia but also in Western markets, where traditional shared bike models may soon be overshadowed by this dynamic newcomer.
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