India is set to become the next major market for bike-sharing services, as successful Chinese start-up Mobike launches in the country. In April, Alibaba-backed Ofo launched its bike-hire scheme there, and says it has already registered over a million rides. Meanwhile India's ride-hailing platform 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-Dianping for $2.7bn in November last year, and this is its first major overseas venture. Estimates suggest the global bike-sharing market could be worth up to $3.8bn by 2019.
India is set to become the next major market for bike-sharing services, as successful Chinese start-up Mobike launches in the country. In November last year, Alibaba-backed Ofo launched its bike-hire scheme there, and says it has already registered over a million rides. Meanwhile India's ride-hailing platform 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-Dianping for $2.7bn in April, and this is its first major overseas venture. Estimates suggest the global bike-sharing market could be worth up to $3.8bn by 2019.