Didi expands into China’s crowded bike-sharing market

China’s ride-sharing giant Didi Chuxing is expanding into the bubble-prone bike-sharing sector, the company said on Tuesday.

Didi also confirmed that it will partly take over the running of failed bike-sharing company Bluegogo’s services, allowing Didi users to use Bluegogo’s bikes.

"After acquiring Uber’s China arm in 2016, Didi has kept almost-total control of ride-hailing in China and is now expanding into other countries as well as other sectors."

The company acquired ride-hailing app 99 last week, the major challenger to Uber in Brazil.

Didi announced it would soon launch a “comprehensive bike-sharing platform” within its app. The platform will integrate the services of Ofo — which Didi has a significant stake in — as well as Bluegogo, other potential partners, and “DiDi’s upcoming own-branded bike-sharing service,” the company revealed.

This article is quoted from Financial Time post:

https://www.ft.com/content/b372ea3d-1fcd-318f-ac21-5ad7714fe06e