Ofo Rides Into Its 250th City: South Korea's Busan
Tang Shihua
/SOURCE : Yicai
Ofo Rides Into Its 250th City: South Korea's Busan

(Yicai Global) Jan. 26 -- One of China's top bike sharers Beijing Bikelock Technology Co (Ofo) is trialing its services in South Korea's second largest city Busan.

With the latest rollout, the operator now covers 250 cities across 21 countries, online news outlet 36Kr reported. Ofo believes moving into Busan, South Korea's biggest port city, will open up more opportunities across the country.

The expansion comes amid tense times for Ofo. It is planning to raise USD1 billion from a deal led by e-commerce titan Alibaba Group Holding Ltd., but its largest shareholder Didi Chuxing Technology Co., which yesterday rolled out its own bike-sharing platform, is unwilling to sign off on the deal and dilute its stake in the firm.

The new app by Didi, which is the world's largest ride-hailing operator, allows users to rent shared bikes from Ofo and competitors Bluegogo and Qingju bike.

Despite the uncertainty, Ofo is plowing ahead in the sector. It has over 10 million bikes and takes more than 32 million daily orders.

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Keywords: OFO , Bike Sharing , South Korea