Mobike

Mobike emerged in the rapidly expanding bike-sharing market, launching its service in Shanghai in April 2016. The company was founded by Hu Weiwei, a former journalist, alongside co-founders Davis Wang, a former General Manager for Uber Shanghai, and Joe Xia, who brought his experience from Ford and PSA Peugeot Citroën. The initial concept, conceived by Hu Weiwei, aimed to provide a convenient and accessible urban mobility solution. The founders' combined expertise in technology, transportation logistics, and media proved instrumental in navigating the competitive landscape.

The company operates a station-less bike-sharing system, allowing users to locate, unlock, and pay for bicycle rentals through a smartphone application. This model targets urban commuters and residents seeking short-distance travel alternatives. Mobike's revenue stream is primarily based on a pay-per-ride model, where users are charged for the duration of their rental. The service expanded aggressively, not only across China but also into international markets, including Manchester, UK, and Florence, Italy, by 2017.

Mobike's bicycles are a core component of its service. They were designed for durability and low maintenance, featuring airless tires, a rustproof aluminum frame, and a chainless shaft transmission system. Each bicycle is equipped with a GPS-enabled smart lock that is powered by the rider's pedaling, a feature that facilitates tracking and management of the fleet. This technology allows the company to monitor the location and condition of its assets, optimizing distribution and reducing theft. A significant milestone in the company's trajectory was its acquisition by Meituan-Dianping in April 2018 for a reported $2.7 billion, integrating Mobike into a larger ecosystem of on-demand services. Following the acquisition, Mobike underwent a rebranding in January 2019 to Meituan Bike, although the Mobike brand continued to be used for its international operations.

Keywords: bike-sharing, urban mobility, micromobility, smart bicycles, sharing economy, GPS tracking, mobile application, asset-light, dockless, last-mile transportation