, Columnist
Two-Wheeled Heptaconta-Unicorns?
Ofo and Mobike keep raising money. And accumulating inventory.
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The Chinese bike-sharing company Ofo Inc. just secured another $700 million, outraising Beijing Mobike Technology Co., which added $600 million to its coffers last month.
Except it isn't bike sharing, is it? As I have shouted in this newsroom more than once, these startups are in the business of bike rental. Why do they keep insisting they're part of the sharing economy?