, Columnist
Meituan IPO Fact-Checks Mobike’s Fanciful Numbers
The prospectus paints a much different picture.
Perhaps less used than the company says.
Photographer: Sean Gallup/Getty Images
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A year ago the world was beset by a bicycle rental craze that resulted in piles of discarded equipment and mountains of claims about the size of each fleet’s business.
I even fielded complaints from one outfit’s PR representatives that I underreported its figures. (They didn’t get back to me with their official numbers.)