Bike-sharing firm Ofo’s dramatic fall a warning to China’s tech investors

Ofo
Ofo bike-sharing bicycles are pictured in Singapore, August 29, 2017. REUTERS/Edgar Su

On the sidewalks of Shanghai and Beijing, once bright-yellow Ofo bicycles lie in varying states of disrepair – chains unhooked, wheels buckled and paint starting to fade – reflecting the quick rise and sharp fall of the Chinese bike-sharing startup.

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