Industry

Mobike Denies Misappropriating Deposit, Says Users Can Withdraw Any Time

Dec 01, 2017, 20:39pm2018/08/01 20:06:40 Tencent Tech

Mobike rejected a November report that it and its competitor ofo had run into liquidity problems and started using users’ deposited funds to support their expansion. Mobike holds approximately 6 billion yuan in deposited funds. Mobike and ofo also reportedly stoped paying their debts to bicycle factories and PR companies.

A spokesperson for Mobike said the report was seriously inconsistent and said “users can withdraw their deposits at any time.”

Ofo also said that users can refund their deposits through the official App, customer service phone line or other channels.

The following is the full text of the statement:

This report was seriously inconsistent with the facts and Mobike strongly condemns it.

Mobike will defend its rights and interests through legal means against malicious slurs and rumors on the Internet.

“User orientation” is one of Mobike core values. Since its establishment, Mobike has valued “the guaranteed safety of users’ deposits” and ensured their ability to withdraw at any time.

Mobike called for the sharing bicycle industry to attach importance to users’ interests and ensure the safety and refundability of users’ deposit.

The following is the full text of ofo’s statement:

ofo is continuing its orderly operation. It has strictly guaranteed users’ security since its establishment and set up a convenient and smooth deposit process.

Currently, users can refund their deposits through the official App, customer service number and other channels.

In addition, through our cooperation with Zhima Credit, ofo has offered free-deposit ride services to users in 25 cities to ensure a better user experience.

This article originally appeared in Tencent Technology and was translated by Pandaily.

No Intermission for Shared Bikes’ War

Hundreds of workers in bright yellow uniforms assemble small yellow bicycles at the Tianjin Flying Pigeon bicycle factory on May 19. The workers hurriedly attach the wheels and gears to each frame, and every 15 seconds a new ofo unit is born. Workers at the end of the line load each new bike into cardboard […]

The new trends of sharing economy in China

Anything is possible in business. The “Sharing economy” has penetrated into every aspect of life: sharing bicycle, sharing umbrellas (which though proved to be a failure within only one day.) What are the problems behind this seemingly endless economy model? And where do we go from here? 2016 truly was the year of “sharing economy”. […]

ofo Investor Says it is Profitable Only When Mobike Merges with ofo

On the Third Fudan Chief Economist Forum in Shanghai, when talking about sharing bicycle development, Allen Zhu, the managing director of GSR Venture and investor of ofo, said that Mobike and ofo accounted for 95% of the total market share, but they still would spend more fund in operation. Profitability is possible only when the […]

Shenzhen will Pilot Smart Bike Dock Lock for Shared Bikes

The reporter learns from Shenzhen Road Management Center that Shenzhen plans pilot smart dock lock of shared bikes. When residents return bikes in demonstration region, lock pile could read label and automatically lock bikes. The demonstration site, located in Yuehai Sub-district, Nanshan District in Shenzhen, will set up 30 parking areas, 2000 lock piles and […]

Subscribe now to get unlimited access.