Serious Ah Tiong Startup OFO Collapsed!

[Pinkieslut]

Many customers owe deposit!

 

[zhihau]

Altogether now!!! HUAT AH!!!

 

[eatshitndie]

more to cum.

 

[Insider Player]

The business model of such start ups is to con as much as possible. Wonder why even Alibaba invested in such scams

 

[syed putra]

The business model of such start ups is to con as much as possible. Wonder why even Alibaba invested in such scams

Grab, i believe, is still losing money.
When grab first stated as myteksi in jiu hu, their overheads were low. But investors and seed funds put in billions into the company. It relocated to a tax haven but now, its overheads are high as it hired tech experts and marketing etc to expand. I cannot see how it can breakeven as taxi fares are not paid for in advance like say, airline tickets or hotel bookings.
Airasia, when it started, was just a ticketing website selling tickets one year ahead with no planes.they fund their business by selling tickets at a discount. No need for other investors. Thats what i call a great business model.tgey still have no planes as they sold it off and leaseback.they are now just a website selling plane tickets and managing flights.

 

[tanwahtiu]

Ride bicycle in the city? Setup pros shop make more money...

 

[syed putra]

Ride bicycle in the city? Setup pros shop make more money...

Electric scooters better than bicycle and just as cheap to make. Its getting traction in US.

 

[Scrooball (clone)]

This kind of idiotic rent a bicycle con scheme should banned. Bicycles are dumped around everywhere. There's no control at all. And it's not even profitable for the operators.

 

[mojito]

This kind of idiotic rent a bicycle con scheme should banned. Bicycles are dumped around everywhere. There's no control at all. And it's not even profitable for the operators.

Silly man lah you. Profit is just a number. Money in their pockets already, now that is real.

 

[JustLikeThis]

more to cum.

Many Chinese startups use deposits to invest in cryptos.

OFO whacked bitcoins with the deposits from customers. It was easy money when bitcoin raised from US$4000 to US$9000

It is below US$4000 now, so they are sitting on massive losses. The deposit refunds are also forcing them to realize the losses by offloading below US$4000 level.

 

[borom]

Unfortunately its not backed by a sovereign fund that can just brush aside millions in losses by simply saying its "long term investments"