Deals
How Mobike’s Founder Turned Crazy Idea Into $3 Billion Startup
- Founders take away billions and stay at company after sale
- Mobike is said to sell to Meituan at a $3.4 billion value
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It seemed like a nutty idea at the time -- and it still does.
Three years ago, Hu Weiwei and her co-founders decided to start a business letting people share bicycles for pennies per ride. People could hop on for a quick ride to the subway or supermarket, then leave the bike right out front without the hassle of finding a parking rack.