Ofo Founder Blacklisted by Court Amid Debt Woes
The founder of China’s bike-sharing startup Ofo was blacklisted by a court and barred from excessive spending after the company failed to meet debt obligations amid a cash crunch.
The People's Court of Haidian District in Beijing took the action against Dai Wei, Ofo’s founder and chief executive officer, limiting the amount of money Dai can spend on services and products, according to a court document. Dongxia Datong Management and Consulting Co. Ltd., the company owned by Dai that operates Ofo, was listed as a defaulter.
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas