People stole nearly all of the bikes belonging to a shared-bike startup, so it had to close down


All of those vandalised bikes were going to drive one of China’s bike-sharing companies out of business sooner or later. That time has come. 

Wukong Bike — one of an estimated 30 bike-sharing startups in China — has closed after a mere six months of operations. It had no choice: it lost nearly 90 percent of its bicycles to mischief and theft. 

SEE ALSO: Shared bikes are so popular, they’ve squeezed humans out of this park

The company had a fleet of 1,200 bicycles in the city of Chongqing.

A rare group photo of the bicycles.

A rare group photo of the bicycles.

Image: Wukong bicycle/Weibo

Like many of its competitors, Wukong offered bikes for rent under the Uber model of “sharing” a bike — grab one off the street, unlock it with an app, and simply leave it by the side of the street at your destination. Read more…

More about China, Sharing Economy, Mobike, Ofo, and Bike Sharing

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