Chinese Bike Sharing Companies Desire to Expand Worldwide

Mobike, one of the bike sharing companies in China got an investment of six million US dollars to help it expand its bike sharing services worldwide.

Bike renting companies are not new in the world, but companies in China have been named the first ones to use technology to make bike sharing possible. After success in China, now they are expanding beyond borders. Using GPS technology, all you need is an App on your smartphone which will show you where the bikes are near you. You use your smartphone camera to scan a QR Code on the bike to unlock it and then all you have to do is ride it to wherever you want and just leave it there, when you lock it you will receive a bill on your app, and you can see how long, and how far you've travelled, and how much you they charged you.

Mobike reports a stagering amount of 100 million users using its bikes a combined amount of 25 million times a day. The service spans 100 cities in China, and it have expanded to Singapore, at the end of this month, they are planning to start operating in Manchester, UK, and this will be the first city in Europe to receive their services.

The founder and CEO of Mobike Davis Wang, said they want to expand their services worldwide and they plan to have a global presence in more than 200 cities on earth at the end of this year.

Another company that provides the same services, Ofo, have also shown interest in expanding abroad as well, it is already asking for investors and sponsors from different sources. Valued at one billion at the beginning of the year, Ofo, is already operating in Singapore and have trials in Cambridge, UK. Many companies around the world are already immitating the trend, such as US's LimeBike which started a few months ago which is basically a copycat of Ofo.