China's Mobike Wants its Bicycles to Cover 100 Cities This Year
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China’s bike-sharing war will spread beyond the country this year with Mobike planning to more than triple its coverage to more than 100 cities globally before the end of 2017.
Mobike’s orange-hued bicycles have become a staple of Chinese sidewalks since it started formal operations last year. It’s attracted hundreds of millions of dollars from backers including Tencent Holdings Ltd., Warburg Pincus LLC, TPG Capital, Temasek Holdings Pte and Foxconn Technology Group. The startup will officially start services Tuesday in Singapore, its first non-Chinese location, where rival Ofo has also expanded.