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Limebike Become Number 1 On Usa Market

Three years after making a VC in the United States, Toby Sun began looking for a bike-sharing project in the U.S. market. The survey found that finding a project team that understands both the Chinese market and the U.S. market and is well-served in the supply chain and hardware is not easy. Finally, Toby turned his attention to himself, so with today's United States share cycling brand: LimeBike.

LimeBike was born in Silicon Valley of the United States early this year and two Chinese people brought the Chinese shared bicycle model into the United States. In the short half of the year, Limebike has completed 12 million U.S. dollars of round A financing and 50 million U.S. dollars of round B financing. According to latest data released by Toby, LimeBike currently has 23 markets and has delivered over 10,000 vehicles, of which 60% are in cities and 40% are in schools.


Share bike war to the United States

Like catfish fed to sardines, sharing every cycle in cycling has a different impact and a new energy for the entire industry.

Here, the share of cycling in China has been set, and the big cities have also been full. It can be said that entrepreneurs want to enter this market with almost no chance. On the other side of the oceans, the United States shared the bicycle war has just been ignited.

LimeBike, a cycling brand newly established in early 2017, has a history ofofo, a pioneer in the development of China. In a short period of six months, LimeBike has entered 23 markets with a total of more than 10,000 vehicles. Toby said LimeBike currently stays one or two markets a week.

Unlike the domestic market, the U.S. market is relatively easy to make in terms of profitability.

On the one hand, thanks to the more rational competitive environment in the United States, it is unlikely that there will be excessive competition in China. This will give entrepreneurs more time and space to polish their products and serve their users, laying the initial fine operation foundation for profitability.

On the other hand, although the absolute amount of the United States is not high in the country, the density is relatively small, but the value of a single user is higher than domestic users. It is understood that every time you use LimeBike 30 minutes spent 1 US dollars, students enjoy half price. In terms of rental income alone, foreign markets are 5,6 times the domestic. This is why interviewed Toby said that some cities are performing well.

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According to Toby, LimeBike has accumulated almost 1 million orders and registered more than 400,000 users. "There are basically two or three million orders by the end of the year," Toby predicts.

The benign competitive environment is much higher than the domestic unit price, and the overall damage rate of the vehicle is also relatively low and other reasons. First, a small blue bike, followed by the motorbike, ofo, some of the recent 2,3 echelon bike is also the layout of overseas markets. In the United States there are also brands such as Citi Bike with pile bike, Social Bicyles, Zagster, Spin and others.

Obviously, the U.S. bike sharing war has been fired, but Toby believes the United States is far from having the vicious competition in the early stages of China's sharing of bicycles.

One reason is that the United States attaches great importance to the management of right-of-way and planning programs. The order of development of shared cycling is first controlled and then put into use. However, in China, on the contrary, the extensive "first-rate bicycle graveyard" Limit orders. " Therefore, the competitive environment in the United States is in a healthy competition.

Of course, the overseas market share cycling companies still can not escape the fate of reshuffling, the bigger and bigger cake, the market players will each have their own skill.

Relatively easy to go

As in the Chinese market, there is also the last mile in foreign countries.

For example, Toby said that driving in New York at speeds below 5 miles will always be faster for bikes. The rush hour between 2 and 6 pm, sometimes with traffic jams for an hour, is faster than driving.

Momo and ofo and other proven business model in the Chinese market, LimeBike in the United States to go relatively easy, Toby said, LimeBike directly out of pre-verification market, educate users stage. "For example, what kind of operation is more appropriate, the problem of car parked, save a lot of time."

But that does not mean that it will be easier for China's shared bicycle brands to go the same overseas. For a simple reason, overseas markets have special needs in overseas markets, and they all differ from the domestic market in product, operation and culture.

Such as product design, due to differences in geographical conditions and climatic conditions in overseas caused by the particularity of the road conditions in some areas, like the United States needs products is 26-inch wheels, rather than the domestic 24-inch wheels. LimeBike also launched a speed change car aimed at riding habits of US users.

On the other hand, whether or not a team of overseas genetics can also influence the government's choices and judgments to some extent. This involves details of the supply chain, logistics, hardware, software, government relations, operations and other aspects of the details.

Toby and his current partner, Brad, have been working in the United States. Most of the other team members come from the United States and have a deep understanding of the U.S. market and operating environment. In terms of response speed, communication with the government are more rapid. This is one of the reasons LimeBike quickly entered 23 cities in just six months, leaving 70% of the cities exclusive. Toby said that in half a year, LimeBike will be No. 1 in the US market.

In an interview, Toby just brought a team from the United States to China to exchange experiences with suppliers and partners. Toby hopes to build a team that is good enough and build a lead faster using team genes.


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