ã€World Wide Web Reporter Lin Di】 According to a recent report by U.S. magazine "Fortune," the bursting of China's bike-sharing bubble has been marked by the collapse of the "Little Blue Bike" (Xiao Lan) company, signaling a broader reckoning in the country’s internet-driven sharing economy. This crisis has raised concerns about the sustainability of other tech startups in China, with many facing pressure to merge or shut down. The report highlights that Bluegogo, China’s third-largest unicycling startup, has also gone out of business, adding to the growing list of casualties in this fast-moving sector. Analysts warn that the current environment is making it harder for new entrants to survive, as investors become more cautious and market saturation sets in. Little Blue Bike’s global expansion efforts ended in failure. In San Francisco, the company faced strong opposition from local officials and was forced to pull out within four months. In Sydney, it partnered with Reddy, a local bike-sharing firm, but the collaboration collapsed, and Reddy ultimately switched suppliers, leaving Little Blue behind. The financial troubles of Little Blue became fully evident in the Chinese market last week. Social media platforms were flooded with complaints from users who couldn’t unlock their bikes or get refunds for deposits. The company’s app became unreliable, and its Beijing headquarters was found locked and empty when journalists visited. A supplier told the Global Times that the company still owed him over $1.5 million. In an open letter released last Thursday, CEO Li Gang admitted that the company had been acquired by another Chinese firm. “As CEO, I made a mistake,†he wrote. “I was too proud.†There are rumors that Li has left China, though he has denied them. Before Little Blue’s collapse, several other bike-sharing companies, including Wukong, 3vbike, and Machinocho, had already failed. Analysts predict that the industry will soon undergo a brutal consolidation, with only one or two major players remaining. The two leading companies—Mobike, backed by Tencent, and ofo, supported by Alibaba—have each raised around $1 billion in funding and are seen as the likely winners of the race. According to data, the Chinese shared-bicycle industry has grown rapidly over the past 18 months, with intense competition filling city streets with orange, yellow, and blue bikes. Many companies expanded internationally, entering cities like Boston, Washington, D.C., Singapore, and Kuala Lumpur. "Fortune" reported that even well-managed companies in China’s bike-sharing sector have struggled with growing pains. The industry is seen as inflated, with too many players, excessive venture capital, and limited profitability. As the Little Blue Bike crisis unfolds, the bubble in China’s bike-sharing market is clearly deflating, signaling broader challenges across the Chinese internet landscape. Ethernet switch,Desktop switch,Gigabit Switch,Industrial Switch,TP link switch Dongguan Jinglin Communication Technology Co., Ltd. , https://www.jlpcba.com
