March 22, 2017 Comments Off on Will bike sharing be the next big thing?
Bike sharing startups are putting more people on two wheels like never before. In Europe, US, Japan, and China, bike sharing is becoming increasingly popular, so popular that research by global strategy consulting firm Roland Berger indicates that the bike-sharing market will grow to $6 billion by 2020. Investors have likewise taken notice. China’s Mobike has a total of $325 million in venture capital, while its rival Ofo has $580 million in its war chest. In the US, Limebike has recently raised $12 million in venture funding from a consortium of investors. As bike-sharing companies gain traction and younger consumers continue to trend away from ride-sharing services like Uber and Lyft, it looks like bike-sharing programs are here to stay.
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