Famous Chinese Bicycle sharing startup ofo, intends to enter Indian market by early 2018. Presently, they are doing an extensive analysis of the laws and procedure of a foreign transportation company in India. Founded in 2014, ofo is one of the hottest startup in China and gained a stunning response.

In July 2017 ofo announced $700 million of new funding in a round led by Alibaba, Citic PE and Hony Capital. Majority of the fund will be spent for global business enhancement. As per the data, 8 million bicycles to more than 100 million users across eight countries, including the UK, Singapore, Malaysia and the US.

Currently, they are charging $1/ hr, but they are considering the best rates fit for the Indian market. ofo is hoping for Indian metros and young professionals where environmental issues are welcomed.

How ofo works?

  1. ofo app is available both in Android and IoS version. Simply download the app on your phone.
  2. Open the app and find the ofo bicycles available near you.
  3. When you reach near the ofo bicycle, simply tap the “unlock” button and scan the barcode. Just unlock it and enjoy the ride.
  4. Once your journey is finished, simply park it safely and legally.
  5. Do the locking manually to complete your ride.


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Source: ofo

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