Ofo realized that by equipping bikes with GPS and digital locks, commuters could use their phones to rent bikes, freeing them from fixed docks. Almost overnight, the streets of China's cities started to resemble a kind of bicycle free-for-all.
Ofo, Pioneer of China's Bike-Sharing Boom, Is in a Crisis
The business model of the country's typical tech start-ups — spend furiously to acquire new u... more
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