Not A “Cheap Bastard”: oBike Investor On Why He Has Not Repaid S$10M Debt
oBike Singapore investors maintain their request for a detailed breakdown of the hefty $10 million debt liquidators FTI Consulting claims they owe.
Browsing: bike sharing
LTA Suspends Ofo’s License – Orders Removal Of All Bikes By 13 March Or Risk Termination
Ofo's coming close to the end of its road, as it could face termination if it fails to remove all bikes in public places by 13 March.
Ofo Sacks Operations Team In S’pore Without Notice Or Compensation – Still Owes Vendors Over $700K
Ofo did not provide any reason for the termination, nor were the affected employees offered a one-month compensation they were due to receive.
oBike’s $10M Debt Settlement Drags On As Investor Stands Firm On Demand: “I Asked For Invoices”
Various creditors have filed about $768,700 worth of claims against oBike, higher than the expected $497,700 as stated in the firm's records.
ofo, Not Again? Bike-Sharing Firm Mysteriously Vacates S’pore Office, Said To Owe Vendors Over $700k
According to a report, ofo Singapore owes over S$700,000 in unpaid services to vendors. Former and current employees have also yet to be paid for claims.
Mobike Nearly Doubles Its Rental Fees – Claims Price Hike Is Necessary To “Support Supply And Demand”
The Chinese bike-sharing firm has nearly doubled its fees - the rate for a single trip now costs $0.99 for every 20 minutes, up from the usual $0.50
Ofo Raises Bike-Sharing Prices By Up To 3x Due To LTA Licensing Fees: Rides Under 15 Mins Now Cost $1
Under LTA's new licensing framework, bike-sharing operators have to pay $60 for every bicycle deployed, on top of a $1,500 application fee.
GG GBikes: $20M Funds Missing, Failed To Sell To Grab, And Now Their LTA Licence Is Rejected
A Singapore-based investor has agreed to invest $1 million to fund the firm's "new chapter", provided that Gbikes secures the operator's license.
ofo Awarded LTA Bike Sharing License, But “Disappointed” They Can Only Operate Smaller Fleet Of 25,000 Bikes
Today, ofo announced that it has been awarded a full bike sharing license by the Land Transport Authority to operate a fleet of 25,000 bikes here.
An Exclusive Insider Account On Why ofo Left M’sia And So Many Other Markets
A person with insider knowledge regarding ofo's operations approached us to provide some details regarding their closure in so many markets.
Bike-Sharing Firm Ofo Facing Cashflow Issues – Rumoured To Be Acquired By Didi For US$3 Billion
Didi restarted the acquisition talk earlier this month, and it is reportedly coming back with a lower price for every negotiation.
Ofo Singapore Users Complain Of Unauthorised Transactions – One Was Charged $100 “For No Reason”
On both online forum Reddit and ofo's Facebook page, users have posted complaints of errant charges found in their bank accounts.