Dockless firm Ofo battling to survive against resurgent Mobike - BikeBiz
Ofo scales back operations, sheds staff, "shrinks global footprint".

Dockless bike share firm Ofo says it remains committed to London, but it has been pulling out of smaller UK cities – such as Norwich – and has removed its bikes from some countries altogether, including India.

Rumours have been rife in the bike share world that Ofo has been suffering cash-flow problems because of its global expansion.

UK staff have recently been made redundant, and it's possible that its new owner – the cash-rich Alibaba, China's Amazon – is no longer willing to give blank cheque after blank cheque. 

Meanwhile, rival operator Mobike appears to be winning what was always going to be a bruising, first-to-scale battle. Mobike has nine million bikes and 200 million registered users around the world and earlier this year was acquired by digital specialist Meituan Dianping in a $1 billion deal.

In India, Ofo's communications manager Rajarshi Sahai told the press: “We are shutting down our country operation. It is part of a global strategy to shrink the footprint.”

If that's the global strategy then Ofo has lost not just the battle but also the war.

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