On Jan. 23, Wang Huiwen, co-founder and senior vice president of Chinese food delivery giant Meituan Dianping, announced in an internal letter the full integration of bike-sharing company Mobike into the Meituan system.
Mobike will become a division of Meituan‘s location-based service (LBS) platform, which will be lead by Wang himself. Employees of Mobike Beijing will be relocated to the Meituan headquarters by the end of February.
Currently, users can access the bike-sharing service by scanning the QR code with either the Mobike or Meituan app. In the near future, the newly rebranded Meituan Bike will only be accessible through the Meituan app.
In April 2018, Tencent-backed Meituan acquired Mobike for $2.7 billion. The rivalry between China’s two biggest bike-sharing companies, Mobike and Ofo, has intensified as each one is backed by a tech giant, Mobike by Tencent and Ofo by Alibaba.
Mobike’s co-founder Hu Weiwei stepped down as CEO in December for personal reasons, and Liu Yu, president of Mobike, took her place. Based on Wang’s letter, Liu has left Mobike to start another business.
Meituan‘s LBS platform was founded in October last year during Meituan‘s first post-IPO structural adjustment. It includes location-based services, ride-hailing services, public transportation and autonomous delivery.
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