Ofo boss writes to the team: ‘I’m persevering despite the pain and seeming hopelessness’

Below is a translation of an internal letter written by Ofo founder Dai Wei to his team. The letter has been circulating in the Chinese media. See our full coverage of the Ofo crisis.

Dear Ofo team,

I hope you are well. I believe that whether you are working at our headquarters or in various cities across the country, we’ve all experienced immense pressure and torment.

Like everyone here, I’m persevering despite the pain and seeming hopelessness.

From the end of last year to this year, we’ve been unable to make the right judgments on the changes in external circumstances. As a result, the company has been saddled with enormous financial pressure throughout the year.

We’ve been refunding user deposits, paying supplier arrears, and maintaining company operations. We’ve been splitting one renminbi into three.

Recently, the pressure from cash flow and the media has made us feel powerless. With no results to show after a search for financing, I have tried to cut down on operating expenses in order to return some user deposits and suppliers’ arrears. I’ve even thought about dissolving the company and filing for bankruptcy so that you don’t have to continue to bear such pressures.

But whenever I have such a thought, I can always see one user after another on the road, perhaps riding a small yellow bike to go to work or pushing a small yellow bike to transport heavy things. And then I think about how we are still providing services to millions of users.

I told myself – just like I keep telling every Ofo team member – that there is hope in life and that we must withstand great pressure. We must also find ways to overcome big challenges.

I’m very grateful to the brothers and sisters who still believe in the company. I can hardly imagine how much pressure you have endured this year and how much difficulty you have overcome. I appreciate that greatly.

I don’t have the opportunity to understand and meet you one by one, but I am full of gratitude and pride. Our passion and dedication are the fuel that keeps our bike operations going. We are fighting to make sure each user can use our bikes for just one more day.

I am also grateful to all our classmates who have left or are about to leave. Each one of you has used your own emotions and strength to prop up Ofo’s young but burdened body. I have no chance to say goodbye to you, but I am full of confidence. You will return one day because each of you has contributed to Ofo’s lifeblood.

Finally, I hope that every Ofo staff can agree and firmly believe that they will not escape, live bravely, and be responsible for every penny we owe to every user who has supported us!

May the world have no hidden corners, and may the people of Ofo never give up.