Oct 17, 2017 Ville Vahteri
Valued at over $2 billion, Ofo is one of the two bike-sharing giants in China. Their service is an app which gives you the access to bikes around the city. Currently, Ofo has 10 million bikes in 13 countries. By the end of 2017, the company is aiming to expand to 200 cities and 20 countries – and to reach that goal, they just raised $700 million Series E, led by Alibaba. The United States appeared to be their first huge leap after the round, starting from Seattle. Also, a number of European cities are already getting their own yellow bikes.
“I hope that by 2020, people everywhere around the world will be able to ride an Ofo bike. Moreover, I hope that Ofo stands for not just a solution for transportation but also as a symbol for a responsible but daring company, which leads the industry and inspires people every day,” Dai Wei, the 26-year-old Co-founder and CEO of Ofo, explains to us.
What he means by “not just a solution for transportation” stems from a deeper mission. Namely, expanding and growing in numbers is not the intrinsic value of Ofo. As Dai puts it, their team is committed to providing users with a convenient, efficient, green and healthy way of travel. Thus, their core purpose also helps to tackle the pressing environmental challenges.
“Ofo aims to solve the last mile problem for urbanites. It’s a mission which also targets environmental issues. As the business develops and evolves, we are doing a lot to explore deeper into solving issues regarding climate change, pollution, and other environmental challenges,” he states.
As said, their dream is to solve those problems globally: serving the environment by providing their yellow bikes at every corner of the world. For a man who was not believed to last even 3 days with his newly found business, but went and built one of the world’s largest bike-sharing companies in just two years, the mission sounds ambitious but doable.
“We want to unlock every corner of the world, and revive riding – this great invention of humankind, which will lead to a better environment, better health for urban people and an easier traveling experience,” Dai concludes.
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