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Bluegonegone: China’s bike-sharing bubble goes bust [Fortune]

Cardinal Health, Inc (CAH)  More Company Research Source: Fortune
Last cardinal health, inc earnings: 11/8 06:55 am Check Earnings Report
US:NYSE Investor Relations: ir.cardinalhealth.com/home
PDF And so it begins. Chinese media report that Bluegogo, the nation’s third-largest dockless bike-sharing startup, has ceased operations, becoming the first major casualty in a fast-paced tech sector many analysts warn is hurtling towards a reckoning. Bluegogo was among nearly 30 Chinese startups allowing users to rent bikes using their smartphones and leave them wherever they choose. The company launched in 2016 with more than $90 million dollars in venture funding. At its peak, it claimed 700,000 bikes and 20 million users, and rolled out operations in San Francisco and Sydney. Bluegogo’s attempts at global expansion both ended in failure. In San Francisco, the company ran into stiff resistance from local politicians and suspended operations after only four months. In Sydney, Bluegogo supplied bicycles for local bike-sharing venture Reddy Go, but the Australian firm broke off partnership negotiations and dropped Bluegogo in favor of another bike supplier. The [Read more]

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