All Rights Reserved. Two senior executives at Lyft, in charge of strategic initiatives and design, are leaving the ride-hailing firm, The Information has learned. The dockless system uses its smartphone app to unlock and locate nearby bicycles, charging an hourly rate for use. Ltd. Velocity Bicycle Cooperative will be selling 170 of Ofo's bikes at its warehouse on Mount Vernon Avenue in Alexandria, the bike shop said on Facebook. Under LTA’s new licensing framework, bike-sharing operators have to pay $60 for every bicycle deployed (which covers a licensing fee and security deposit), on top of a $1,500 application fee. This difference in scale is, perhaps, crucial: where Ponybike exists to provide bikes and make a profit, Ofo and Mobike, both operate in over 200 cities and are entwined in a global battle – one fuelled by tech-giant rivalry and investors’ pursuit of data. Airbnb’s business in big cities shrank in late summer compared with a year earlier, previously unreported figures show, as the coronavirus pandemic kept the brakes on urban travel. “While there are associated costs with the licensing regime, we will definitely be looking into other means to manage the costs, and not pass them off to our users unnecessarily,” SG Bike’s marketing director, Benjamin Oh, told TODAY. Co. Regn. Read deeply reported stories from the largest newsroom in tech. Receive a summary of the day's top tech news—distilled into one email. It’s access to this sort of information that attracts investors to bike-sharing firms. Stay updated with our weekly curated news and updates. Ofo also increased the prices for its subscription pass. View stories on our mobile app and tune into our weekly podcast. And then there is Ofo. Wang Yijian, a Chinese tech journalist who authored a report on the finances of the global bike-sharing boom, explains that, as the major investors in the two firms, Alibaba and Tencent are not interested in interested in profit, but rather seek to utilise user data to strengthen their payment apps, Alipay and WeChatPay. Users download an app, enter their card details, turn on location data and then use the app’s built in map function to find, swipe and unlock bikes, which they can then use within the city limits for as long they like. Unlike other news organizations, our events are available to subscribers at no extra cost. Ofo’s revenue? I contacted each of the firms asking what exactly is done with this information: whether it is ever sold, where the money to buy the bikes comes from and whether access to data was a major incentive for investors. Each month, our reporters discuss trending tech topics in depth exclusively with our subscribers. Go-Jek Confirms It’s Coming To S’pore In Nov – Partners 6 Local Car Rental Firms To Bolster Vehicle Fleet. Like what you read? Every weeknight, we'll send you our views on the day's top tech news. The price the bikes will be sold at, $50, is estimated to be 30% lower than what ofo pays their supplier, Shanghai Phoenix. Ofo (/ ˈ oʊ f oʊ /), stylised as ofo, is a Beijing-based bicycle sharing company founded in 2014. Ofo also increased the prices for its subscription pass.

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