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Tencent-backed Mobike is not the first Chinese bike sharing company to enter India.
"The move is designed to establish a no-threshold, zero-burden and zero-condition deposit-free standard for the entire bikesharing industry," Mobike said in a statement.
The acquisition of Mobike will add a new set of customers to Meituan and boost the efficiency of last-mile commutes
When a rider finishes his journey, he just parks the bike and click-locks it shut with a button on the bike.Steve Pyer, general manager of Mobike, said the bicycles are designed for short journeys and GPS trackers locate any which are left outside the designated area.
Auto Business News-December 6, 2017--The United Nations Environment honours Mobike
BEIJINGCHINA 6 JANUARY 2017: Mobike Bicycles in Beijing China.
But Chinese unicorns - such as transport firm Didi Chuxing, bike-sharing start-up Mobike, smartphone maker Xiaomi, or online food delivery service Ele.me - are often unfamiliar to people living outside of China.
"Right now, we are transporting more people than taxis in China in many cities," Davis Wang, CEO of bike sharing company Mobike, told Fortune.
Mobike, a smart bike sharing service, plans to use IoT solutions from AT&T and Qualcomm Technologies, Inc., to support its station-free smart bikes in the US, the company said.
A global private equity firm, New York-headquartered Warburg Pincus has invested over USD8bn in over 100 companies in China, including China Huarong, Car Inc., Baosteel Gases, ZTO Express, ESR, Mobike and Red Star Macalline.
Ofo, along with its major Chinese competitor Mobike, seeks to dominate the global bike-sharing sector.
An update to IPSec's IKE protocol is the IKEv2 Mobility and Multi-homing protocol (MOBIKE).
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