Nine2one

Nine2one is the operator of Elecle, a prominent electric bike-sharing service based in Seoul, South Korea. Founded in 2018, the company provides dockless, IoT-powered electric bicycles that users can rent via a mobile application, addressing last-mile connectivity and delivery needs. The CEO of Nine2one has been identified as Bae Ji-hoon.

The company operates on a pay-per-use or subscription-based business model. Users locate and unlock the e-bikes by scanning a QR code through the Elecle app, with payments processed automatically from a registered card upon completion of the ride. The service initially launched in Seoul's Mapo District and Sinchon area, chosen for its existing bike-friendly infrastructure, and planned to expand throughout the city and to other regions like Hanam, Incheon, and Sejong. By 2022, Nine2one was considered the second-largest e-bike sharing company in Korea by business size, reporting a significant 208% jump in revenue to 11 billion won.

In March 2019, Nine2one received a strategic investment of an undisclosed amount from Socar, South Korea's largest car-sharing platform, as part of Socar's expansion into the micromobility sector. This partnership provided Nine2one with access to Socar's accumulated knowledge in managing vehicle networks. Subsequently, in December 2021, Socar fully acquired Nine2one, which now operates as a subsidiary. Prior to this, in December 2019, Nine2one had also acquired Bisecu, a company in the B2C electronics industry.

Keywords: e-bike sharing, micromobility, last-mile transportation, Seoul, electric bicycle, app-based rental, vehicle sharing, sustainable transport, urban mobility, Socar, Elecle, pay-per-use, bike subscription, IoT, smart mobility, Korean startup, transportation service, dockless bikes, urban transit, mobility platform