China’s bike rental firms Mobike, Ofo are actually secret cash cows: Gadfly

ofo alibaba
Ofo Inc. and Beijing Mobike Technology Co. bicycles sit parked on a sidewalk outside a subway station in Shanghai, China, on Thursday, Sept. 12, 2017. Photographer: Qilai Shen/Bloomberg

China’s bike rental companies Mobike and Ofo are in talks to merge, Bloomberg’s Lulu Chen reported Tuesday.

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