By: Liang Liu (liuliang)
By: Liang Liu (liuliang)
Problem where I live …
• too expensive to take a taxi/uber • very time-consuming to walk • sad
Product • Station-free bicycle sharing • Millions of bicycles with smart lock • Mobile app to locate/unlock bicycles
Product (cont.)
Business Model
~30 USD deposit + ~0.15 USD/hour
Finance
History
2014 Ofo was founded as a companyin business of bike touring
June 2015 Bike sharing service was launchedat Peking University
September 2016 Bike sharing service was open to public in China
December 2016 Bike sharing service was launched In US, UK and Singapore
Dai Wei, Founder
Secret Sauce …
• Great business idea • Large size (10 million bikes in 180 cities across 15 countries) • Strategy to keep growth momentum • Ease of use
Competition (really intense)
51.20% 40.10%
8.70%
Market Share in China
Ofo Mobike Others
• 20+ bicycle sharing companies inChina
• Small leading margin • Similar technology
Competition (really intense)
Ofo Mobike UBIKE XiaoMing
Founded Year 2014 2015 2016 2016
Dock Station Free Yes Yes Yes Yes
Deposit $30/ $0 with high credit score
$45 $45 $30
Hourly Charge $0.15 $0.30 $0.15 $0.15
Founding Rounds Series E Series D Series A+ Series B
Future
Key Puzzles: Technology Innovation Government Relation
Challenge
Challenge (cont.)
US Market
Cities already in Cities to roll in
Washington D.C. Austin, TX Revere, MA Chelsea, MA