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Mobike acquired by e-commerce platform

Bike-share allows Meituan to address the large-scale and frequent demands of customers during their daily commutes

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Mobike when it announced the launch of its bike-share in East London
Mobike when it announced the launch of its bike-share in East London

Meituan, China’s largest provider of on-demand online services, has agreed to purchase bike-sharing firm Mobike as it bids to further its push into the future of transportation.

 

Mobike’s bike-sharing service will be the latest offering from Meituan’s recently introduced range of transportation services that focuses on exploring and developing innovative local commute solutions including ride-hailing, car-sharing, and autonomous vehicles.

 

“We’re excited to include Mobike as part of our range of local service transportation offerings. With its leading technology in the bike-sharing industry, Mobike has created unique value for its customers in their daily commute,” said Xing Wang, CEO and founder of Meituan.

 

“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. We believe that by bringing in Mobike’s resources and expertise to our platform, we further complement our comprehensive local life service platform to help our customers not only ‘eat better’ but also ‘live better’.”

 

According to Meituan, data analytics from its 320 million active customers revealed that a majority of users seek out transportation services to get to and from restaurants and other local lifestyle points-of-interest.

 

Following a pilot launch in Nanjing in 2017, the company’s recent roll-out of ride-hailing services in Shanghai served more than 2.2 million passengers in the first week and 40 per cent of them undertook rides to restaurants and other local life services.

 

Now with Mobike, customers have an additional transportation option to conveniently travel to brick-and-mortar merchants.

 

Meituan said the addition of Mobike’s bike-sharing technology and service to its one-stop service platform will allow it to efficiently address the large-scale and frequent demands of its customers during their daily commutes, especially for short-distance travel needs.

 

“Our goal is to enhance the quality of life in the communities where we operate, which syncs well with Meituan’s mission,” added Davis Wang, CEO and co-founder of Mobike.

 

“Mobike is a pioneer in smart bike-sharing and has developed the most advanced technology in our industry globally. We are excited to join forces with Meituan to bring our convenient, enjoyable and affordable bike-sharing platform to more users in China and globally.”

 

Upon completion of the transaction, Mobike will continue to operate as its own brand. Its founding and core team -- CEO Davis Wang, President Weiwei Hu, and CTO Joe Xia -- will continue to lead the business while Xing Wang will become chairman of Mobike.

 

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