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

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

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.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter