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