Bike-rental startup Bounce buys China startup Ofo's India unit
Bengaluru-based bike-sharing startup Bounce has acquired the India assets of Chinese bike rental startup Ofo. While the terms of the deal were not disclosed, some of the members of Ofo India's senior management team have joined Bounce as part of the agreement. In July this year, Alibaba-backed Ofo shut down its operations in India following a reported cash crunch.