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Many customers owe deposit!
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Serious Ah Tiong Startup OFO Collapsed!
- Thread starter Pinkieslut
- Start date
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- Jul 25, 2008
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more to cum.
- Joined
- Nov 28, 2018
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The business model of such start ups is to con as much as possible. Wonder why even Alibaba invested in such scams
- Joined
- Sep 22, 2008
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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.
- Joined
- Sep 22, 2008
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Electric scooters better than bicycle and just as cheap to make. Its getting traction in US.
- Joined
- Nov 25, 2011
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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.
- Joined
- Jul 7, 2011
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Silly man lah you. Profit is just a number. Money in their pockets already, now that is real.
- Joined
- Jul 13, 2018
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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.
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