Economic Affairs

Bicycle-sharing: End of the road?

The sudden exit of three bike-sharing companies raises questions about the viability of the business model, even as new licensing requirements kick in

Last January, the Chinese-founded company oBike started rolling out its services in Singapore, discreetly setting down its two-wheelers in the northern and western parts of the island. In the 18 months since, oBike has placed more than 70,000 of its silver-frame and orange-rim bicycles around the island.

And then on June 25, it made an abrupt exit from the market, announcing the move to users via its mobile app, as well as a notice on its Facebook page.

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A version of this article appeared in the print edition of The Straits Times on July 04, 2018, with the headline 'Bicycle-sharing: End of the road?'. Print Edition | Subscribe