ShareBikeSG becomes third bike-sharing firm to exit Singapore market

ShareBikeSG – which launched its operations barely six months back – has become the third bike-sharing startup to exit the Singapore market due to stringent regulations, that will take effect from July 7.

ShareBikeSG, which started the service in December 2017, followed the fate of GBikes and oBike, which announced in June that they were stopping services in the country.

“We regret to inform the public that SharebikeSG will cease its bicycle-sharing operations from July 2018. However, point to point services will resume as per normal for event usage,” the bike-sharing startup said on its Facebook page Tuesday.

ShareBikeSG had a fleet of about 300 mountain bikes deployed in various areas, including Gardens by the Bay, East Coast Park, Pasir Ris, and Punggol.

Ethan Tan, the startup’s founder, told Singapore’s Today that the company’s dockless bicycle-sharing service has officially stopped on 1 July. However, the firm’s mobile application will continue to be operational to address users seeking refunds of their deposits.

Tan admits that it is “quite difficult” to meet the requirements under a new licensing regime to tackle indiscriminate parking.

Singapore in March passed new laws that compel operators of dockless shared bicycles, personal mobility devices, and power-assisted bicycles to be regulated under the new licensing scheme.

“We started with interest for mountain biking and are motivated to cultivate the enthusiasm and attitude towards fitness, sports, and wellness,” the operator said on its website. Now, ShareBikeSG is in the process of withdrawing its bicycles from the streets.

Last Week, Singapore-based oBike also ceased its operations in the city-state, citing regulatory difficulties in fulfilling the new requirements and guidelines by Singapore’s Land Transport Authority.

“oBike strongly believes and is committed to provide dock-less bicycle-sharing service that would benefit users’ commuting and Singapore’s transportation system, however it is with regret that the new regulation measures do not favor this belief of ours. This decision will not affect oBike’s operation in anyway in countries outside of Singapore,” said the startup.

Also Read:

Singapore: Chinese bike-sharing startup Mobike launches first overseas branch in Singapore

oBike halts Singapore operations due to regulatory hurdles

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.