such as HelloRide and Bird, have set up in Sydney, hoping that their electric bikes, GPS tracking and better relationships with councils will let them prosper.
One of the country’s e-commerce giants, Meituan Dianping, bought it a year later for $US2.7 billion at the height of the bike-sharing craze thatBy 2019, Meituan was moving to sell off or close its overseas operations as the company bled money.
“As the third-party software provider has terminated the company’s software, we are unable to access the information about the bikes currently deployed,” said Henry Kwok, one of the liquidators. “We were advised some bikes may be deployed in Gold Coast, Queensland.”The director’s estimate would mean the bikes were worth about $840 each, about as much as a low-end but new mountain bike.
“I had no alternative but to make a commercial decision to disclaim interest in the bikes at all known locations,” he wrote in his report.
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Source: FinancialReview - 🏆 2. / 90 Read more »