Mobike Rebranded as Meituan Bike
2019-01-28 15:46 Monday
Chinese bike-sharing company Mobike will rebrand as Meituan Bike and be included in internet giant Meituan's platform as an in-app feature. According to Wang Huiwen, Co-Founder and Executive Vice President of Meituan-Dianping, the Meituan app will become the only way to access the shared bike fleet in the near future, but the exact timeline has not been released yet.
According to Wang, Mobike's services have been fully integrated into the Meituan app and the bike-sharing service will be incorporated into Meituan's own suite of location-based services. Wang also announced that employees now working in Mobike's Beijing offices will move to Meituan's Beijing headquarters by the end of the next month.
The reshuffle came following Meituan Dianping's public listing in Hong Kong in September 2018. The company hopes to build a one-stop super platform, covering numerous daily services including food delivery, hotel reservations, and public mobility.
Meituan-Dianping purchased Mobike for USD $2.7 billion in April 2018, after which most of Mobike's founding team members have left the company. At the time of the acquisition, it was stated that Mobike would continue operating as an independent brand, but the recent announcement appears to break this original promise.
Earlier this month, WeChat removed Mobike's services from within its app following "the expiry of a partnership" between Mobike and Tencent, which has led to growing concerns among users about current payment plans and how they will be affected.
During the past few years, bike-sharing fever has swept across China, but recently bike-sharing has faced setbacks, especially after Mobike's cash-strapped rival Ofo Inc came under fire for stalling on deposit refunds.
By the end of 2018, more than 10 million users had applied for deposit refunds from Ofo, and thousands of Ofo riders queued outside the company's Beijing headquarters to get their deposit refunded in person.