China's largest ride-hailing application Didi Chuxing today announced it has invested tens of millions of dollars in China's leading bicycle-sharing platform ofo.
According to a joint statement today, the two parties will collaborate on product development, technology, data and business operations.
Users might be able to access ofo's bicycle sharing feature within Didi's application in the future.
Founded in April 2014, ofo has nearly 70,000 bikes shared everyday among over 1.5 million users in 20 cities, with a daily ride over 500,000, ofo said.
Ofo is among a number of start-ups that are quick and swift in applying mobile internet technology to optimize biking resources on China's campuses and urban areas where public transportation hasn't yet covered.
"As a part of DiDi's open mobility ecosystem strategy, DiDi and ofo will explore strategic cooperation in urban rideshare, including offering quality bike-sharing experience on DiDi's platform," according to an email statement.
Ofo's partnership with Didi Chuxing may exert pressure over Shanghai-headquartered Mobike, which gained popularity in recent months with its easy-to-use application and little limitation on the location and timing of renting or returning the bike.
Users leverage these bike-sharing services as a connection between metro stations and office buildings or in the vicinity of campus or residential areas.