Ofo cycle hire firm pulls out of London
by Julia Kollewe and Niamh McIntyre from Technology | The Guardian on (#46PNB)
At its peak the Chinese bike-sharing startup had 6,000 bikes in several English cities
The Chinese bike-sharing firm Ofo, known for its yellow bikes that users can leave in the street, is pulling out of London.
Alibaba-backed Ofo, which is reportedly teetering on the brink of bankruptcy, had already withdrawn from Norwich, Sheffield and Oxford to focus on London, after facing problems with take-up and vandalism.
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