Bluegogo, China’s third largest bike sharing company, reported to be in financial trouble

China’s third largest bike sharing company has reportedly run into financial trouble, amid a wave of busts and consolidations in an industry that took the country by storm this year.

Bluegogo burned through 600m yuan (£68m) in investor funding in the year since it was founded by its youthful CEO Li Gang, deploying 700,000 bikes across cities in China.

Continue reading…

Facebook Comments

This site uses Akismet to reduce spam. Learn how your comment data is processed.