But their cash-burning tactics to attract users and uncertain business models turned out to be unsustainable. By 2017, the bubble was already bursting – yet another casualty in big tech’s seemingly endless proxy wars for users and market share, leaving a trail of broken companies, and bikes, in their wake.
Mobike officially halted operations of the mobile app and WeChat mini programme under its own brand last week, fully merging under its parent company Meituan.