The Chinese bike-sharing startup Ofo announced the launch of its new bike Ofo 3.0, as well as their City Sharing plan in both Beijing and Shanghai on November 17. During the event, the company revealed the establishment of their strategic cooperation with 700bike, a domestic bike company.
Established in 2014, Ofo is one of the earliest bicycle-sharing startups in China. The company's founder Dai Wei has been dedicated to promoting bikes as public transport in the first-tier cities.
To use Ofo's bikes, users just need to download an app on their mobile phone and register with their mobile number or log in with their WeChat or QQ account. By filling in the number on the bike Ofo introduces new bikes and City Sharing plan, they will receive the code to unlock the bike.
To better serve the users, Ofo 3.0 was designed to provide an easier biking experience by using new elements such as solid tires, triangular handlebars, adjustable seats and front and rear braking systems on their bikes. These upgrades enhance the safety, durability and function of the bikes, and reduce the costs of manufacturing.
Ofo's City Sharing plan is to provide differentiated and customized services for bikers. The company will launch varied types of bikes to meet different preferences of the users. Meanwhile, the major focus of the City Sharing plan is to share unused bikes.
According to Dai, Ofo will encourage individuals to offer their unused bikes, and in return they will have the privilege to use all types of Ofo bikes free of charge.
"Through our efforts, we want to make the use of spared bikes promote eco-friendly transport and ease the traffic congestion," said Dai.
On October 10, Ofo successfully received its C-round financing of $130 million. In just three years, Ofo has expanded its business to 19 cities and provinces in China. So far, there are 160,000 Ofo bike users nationwide.
