oBike stops operations in Singapore

[glockman]

What cannot meet LTA obligations, give me a break. The real reason is very straight forward - it just couldn't keep up with the cash burning momentum driven by ofo and mobike.

Singapore is the only city where it has a commanding presence, all other overseas cities are either in trial phase or struggling to stay relevant. If they don't come up with a credible story to keep investors interested, the funding is going to dry up real fast and it's either fold up or fire sale to a larger competitor.

The burn rate is too high. All the others will eventually up lorry too. In order for bike share to work, it has to operate in a civic society. A 3rd world shithole like sinkieland filled with 3rd world migrants and 3rd world sinkie mentality is not quite the place for this business model.

 

[sam heng]

Anything need to do sharing or being civic minded will failed in low quality population country like Singapore.

 

[frenchbriefs]

Only in Singapore can a simple bike sharing service fail.....

 

[virus]

good decision, they hv proven again that SG Inc is just bunch of self serving arseholes who r not pro biz.

 

[ChokBoon]

Grab said it is not true because Obike cannot operate in Singapore.
https://sbr.com.sg/transport-logistics/news/obike-slams-brakes-singapore-operations

in a statement sent to the press, GrabCycle said they are no longer able to offer oBike’s bicycles on the GrabCycle marketplace, as oBike will not have the appropriate bike-sharing license to operate in Singapore, nor will they be maintaining their fleet of bicycles.