Published: 12:23pm, 21 May, 2018 Updated: 10:41pm, 21 May, 2018
India is set to become the next major market for bike - sharing services , as successful Chinese start - up business launches in the country . In November last year , Alibaba - backed Ofo launched its bike - hire scheme there , and says it has already sold over a million bikes . Meanwhile India 's ride - hailing charity Ola also launched a bike - hire service on a number of university campuses in India in December . Mobike was acquired by China 's on - demand provider Meituan - based for $ 2.7bn in April , and this is its first major overseas venture . Estimates suggest the global bike - sharing network could be worth up to $ 3.8bn by 2019 .