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Ofo Enter India 7 Cities

At the end of last year, China's shared bicycle operator ofo, said it was racing to enter the Indian market in early 2018 to compete with Ola, Zoomcar and Yulu, and now it seems that their pace seems to be accelerating.




According to people familiar with the situation, OFO will unveil a shared bike service next Monday at Paytm, an Indian e-commerce and payment giant. And Paytm founder Vijay Shekhar Sharma (Vijay Salle) recently hinted at the news with a tweet on social media tweets.


In this regard, the World Wide Web technology telephone call ofo responsible person, so far did not receive a reply.


According to the World Wide Web technology reporter, Paytm is one of the Internet companies released by One97 Communication in 2010. In 2015, China's Alibaba Group and its financial services subsidiary Ant Financial made two investments in Paytm and became the development course of Paytm The most crucial step is to enter the rapid expansion phase. At the same time, Ant Financial Services helped Paytm to expand its multi-scenario such as travel booking and online ticketing through the full output of its technical capabilities and business experience, and tried to deploy offline payment networks to help it expand its service subscribers to over 220 million in two years Nearly 200 million of them are newly-added users after cooperation with Ant Financial Services. Also at this time, Paytm's number of users for the first time exceeded PayPal's 197 million, jumped to the world's third-largest electronic wallet.




According to a World Wide Web technology reporter, ono January 5, OFO announced that it has signed a Memorandum of Understanding (MoU) with the Pune Municipal Government of India (PMC) to support the Pune Bike Initiative to create a city-wide bike track Comprehensive bicycle master plan. At the same time, OFO will also officially enter the Indian market. Then successively stationed in Bangalore, Ahmedabad and Indore and other cities. On ofo mobile applications, users can track the specific location of bicycle parking, whether to lock, etc., each use price of 1 US dollars / hour.


"We are committed to sustainable public transport in Pune and the health of our citizens and in strategic partnership with OFO we are creating a safer, more convenient and comfortable transport infrastructure for sharing bicycles." In the cities ofo and Pune At the government signing ceremony, Pune Mayor Kunal Kumar said he hopes more and more people choose to share bicycles instead of cars for short trips because "apart from being able to exercise, sharing bicycles also helps to reduce traffic jams , Reduce air pollution and save fuel. "


According to a World Wide Web technology reporter, OFO was founded in 2014 and now operates in more than 250 cities in 20 countries worldwide, with over 200 million users worldwide. Ofo won a new round of financing of more than 700 million U.S. dollars led by Alibaba, Hony Capital and CITIC Industry Fund in July 2017. At that time, the company said it plans to deploy 20 million new bicycles and expand its service to more countries.


And at the end of 2017, in Delhi, the capital of India, Maui announced its cooperation with the local consortium to sounded the clarion call into India. In fact, worship into India, had a signal earlier.


November 18, Worship released news on LinkedIn, hiring human resources manager. Indian VibhorJain as CEO, and he started the show, is the signing of the contract. Attract DLF Affiliates, India's largest real estate group. The golf course road is developed by DLF Group and another company contract.


It is worth mentioning that, before the Chinese players into India, sharing bike "outlet" has been brewing for a long time.


Indian taxi company Ola also launched a shared bicycle service called "Ola Pedal" in December 2017, which is currently under trial operation in Kanpur and will soon be introduced in several cities that operate its taxi business.


InMobi co-founder Amit Gupta launched the bike sharing platform "Yulu" in November 2017. Mobycy also introduced a stationary pendulum bike sharing platform and raised $ 500,000 in seed money; the same month Zoomcar introduced PEDL, Vertical sharing is achieved in Bangalore's HSR layout and the company is considering rolling it out across the city and across the country.


According to akash Gupta, founder and CEO of Mobycy, there are billions of dollars in India's bike sharing market. "Today, businesses that venture into the world of shared bicycles in other countries now have a market cap of between $ 2 billion and $ 3 billion, and in India, people are becoming more and more interested in cycling amusement due to heavy pollution and heavy traffic," he said. Or fitness, this demand is huge in India. "

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While India is attracting access to various types of shared bike platforms, the big question is whether it has such a large market as Europe or China. According to The Guardian, a shared bicycle company headquartered in Hangzhou is said to have 40 shared bicycles to be used every few seconds. A report by Recode shows that in the first quarter of 2017, the number of bicycle trips shared in China surpassed the number of on-demand trips in India during the same period.


Alibaba supported byo and Tencent support the worship is currently China's largest shared bike "Unicorn" company. Both companies raised more than $ 1 billion and basically monopolized more than 90% of the market share of bicycles in China. In contrast, Indian start-ups in this area have not yet attracted any heavyweight funding.


Sanjay Nath, managing partner at Blume Ventures, said: "It is too early to put the share of the cycling market in India and China right now.China has more effective law enforcement, top-down promotion and a good foundation Facilities.For India, however, this mode of transportation is currently required by the market, and its unique basic conditions are limited road space and the public's sensitivity to the price of a shared bicycle.Although the characteristics of Indian cities and the population Particularity will increase the complexity of the business to solve these problems, but if the business can be a good solution to these problems, it may actually become their huge advantage, especially in the practical implementation, local businesses in India may be Better. "


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