Caixin
BUSINESS & TECH

Bike-Sharing Giant Ofo Puts Asia Expansion in Reverse: Source

Bicycles from bike-sharing companies Ofo (yellow) and Mobike (orange and silver) are parked in front of the Notre Dame Cathedral in Paris on July 2. Photo: VCG
Bicycles from bike-sharing companies Ofo (yellow) and Mobike (orange and silver) are parked in front of the Notre Dame Cathedral in Paris on July 2. Photo: VCG

* Decision to focus on four Asian market comes as company reportedly prepares to leave Australia

* Ofo’s future international strategy will be to focus on “priority markets outside China”

(Beijing) — Bike-sharing giant Ofo plans to slim down its Asia operations to four overseas markets — Japan, South Korea, Hong Kong and Singapore — as it focuses on its most promising areas in a bid to become profitable, a knowledgeable source told Caixin.

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