platform Meituan has acquired Mobike, one of the world's largest smart
becomes the newest option in Meituan’s recently launched transportation offerings,
which also include ride-hailing, car-sharing and autonomous vehicles.
"Mobike is not only a pioneer of the smart bike-sharing sector, but they are
also extending their successful model of Chinese innovation to the overseas
markets,” says Xing Wang, CEO and founder of
“We have confidence in Mobike's growth potential and the future
of smart commute and will fully support Mobike's continued efforts in
technology innovation to bring quality products and services to customers.”
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says data from its 320 million active customers shows a majority of them
frequently seek transportation services for short-distance needs such as travel
to and from restaurants and local points of interest.
Mobike will continue to operate as its own brand, with CEO
Davis Wang, president Weiwei Hu and CTO Joe Xia remaining, and with Meituan’s Xing
Wang becoming chairman.
"Our mission is to provide an affordable means of
shared transportation for convenient short urban trips, while reducing
congestion and the carbon footprint of cities,” Wang says.
"Our goal is to enhance the quality of life in the communities
where we operate, which syncs well with Meituan's mission.”
Mobike’s bicycles have GPS and smart-lock technology so
users can find, reserve and unlock bikes using a mobile app.
Since its launch in Shanghai in April 2016, Mobike has
expanded to 200 cities in 15 countries, and its users have cycled more than 18.2
Meituan bills itself as a “one-stop platform that enhances customers’
daily lives through location-based service solutions in more than 250
company recently began offering ride-hailing services in Shanghai with plans to
expand to other cities. Meituan says in the first week more than two million passengers
took rides, with nearly half going to restaurants and other lifestyle services.
The service is a competitor to market leader Didi Chuxing, China’s largest ride-hailing