oBike's owner buys 8,600 ofo bikes in $430,000 deal

OSS' purchase of the ofo bikes is the fourth deal in recent months where bikes in Singapore from the Chinese firm changed hands.
OSS' purchase of the ofo bikes is the fourth deal in recent months where bikes in Singapore from the Chinese firm changed hands.PHOTO: ST FILE

SINGAPORE - The Costa Rican investment firm that owns oBike has bought around 8,600 brand new bicycles belonging to failed bike-sharing firm ofo, in a $430,000 deal.

OSS Inversiones will ship the two-wheelers over to Costa Rica, where it will offer them for sharing under a new wide-ranging mobile application.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month
  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.