By: Liang Liu (liuliang)

Problem where I live …

•  too expensive to take a taxi/uber •  very time-consuming to walk •  sad

Product •  Station-free bicycle sharing •  Millions of bicycles with smart lock •  Mobile app to locate/unlock bicycles

Product (cont.)

Business Model

~30 USD deposit + ~0.15 USD/hour

Finance

History

2014 Ofo was founded as a companyin business of bike touring

June 2015 Bike sharing service was launchedat Peking University

September 2016 Bike sharing service was open to public in China

December 2016 Bike sharing service was launched In US, UK and Singapore

Dai Wei, Founder

Secret Sauce …

•  Great business idea •  Large size (10 million bikes in 180 cities across 15 countries) •  Strategy to keep growth momentum •  Ease of use

Competition (really intense)

51.20% 40.10%

8.70%

Market Share in China

Ofo Mobike Others

•  20+ bicycle sharing companies inChina

•  Small leading margin •  Similar technology

Competition (really intense)

Ofo Mobike UBIKE XiaoMing

Founded Year 2014 2015 2016 2016

Dock Station Free Yes Yes Yes Yes

Deposit $30/ $0 with high credit score

$45 $45 $30

Hourly Charge $0.15 $0.30 $0.15 $0.15

Founding Rounds Series E Series D Series A+ Series B

Future

Key Puzzles: Technology Innovation Government Relation

Challenge

Challenge (cont.)

US Market

Cities already in Cities to roll in

Washington D.C. Austin, TX Revere, MA Chelsea, MA