In brief: Mobike plans India expansion; Lalamove hit by harassment allegation

Photo credit: Lalamove

Mobike considers local Indian manufacturers, expansion to 10 new cities (China/India). The Chinese bike-sharing service launched in Pune earlier this year, but is now looking to increase its presence in India as archrival Ofo departs the country amid restructuring and a reported cash crunch. In addition to launching in 10 new cities, Mobike is also mulling the possibility of contracting Indian manufacturers to build its bicycles. (Nikkei Asian Review)

Lalamove is the latest transportation startup hit by sexual harassment scandal (Hong Kong). A driver at the last-mile logistics firm is alleged to have sent sexually suggestive messages to a female customer after obtaining her contact details by asking her to pay via WeChat rather than through Lalamove’s recommended channels. It is further claimed he threatened the woman when she reported his behavior to Lalamove; the company said it will suspend the driver’s account permanently, but its response has been widely criticised on social media. (TechNode)

Other news

Singapore Exchange (SGX) and Third500 partner to encourage more IPOs of VC-backed startups (Singapore). Third500 – an affiliate of US investment bank Healthios Capital Markets – will work with the bourse to develop a “financing pathway,” including IPOs in the city-state and pre-IPO funding, for companies in areas such as telecom, media, energy, medtech, healthcare IT, and consumer tech. (Third500)

CoAssets reports first year of profitability (Singapore). The crowdfunding platform for the real estate sector said its year-on-year group revenue grew to US$4.27 million from US$534,000 in FY 2017. Sydney-listed CoAssets clocked a total comprehensive profit of US$1.32 million, compared to its US$4.66 million loss last year. (CoAssets)

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