Hu Weiwei, a co-founder of China’s leading bike-sharing firm Mobike, has resigned as chief executive for “personal reasons,” the company said on Sunday.
Source: South China Morning Post
After starting Mobike in 2015, Hu Weiwei sold the bike-share startup for US$2.7 billion to tech giant Meituan in April.
Hu Weiwei / Photo credit: Mobike
The 36-year-old entrepreneur took over the CEO chair from fellow co-founder Davis Wang shortly after the sale.
Mobike and archrival Ofo are on the retreat this year, pulling out of cities around the planet after rapid expansion the year before. Ofo’s CEO last week admitted to mulling bankruptcy as a solution to the company’s money problems.
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