Bike-sharing company Mobike is rebranding, leaving behind its catchy name in favor of “Meituan Bike.”
The move comes nine months after Chinese tech giant Meituan Dianping acquired the fast-growing startup in a US$3.4 billion deal.
The rebrand initially only affects Mobike… er, Meituan Bike… in China. “We will make decisions regarding foreign markets based on the different situations in those markets,” said the company in a statement issued to Tech in Asia this afternoon.
Photo credit: luoxi / 123RF
The silver-and-orange bicycles won’t lose their “Mobike” marque overnight. “The offline rebranding will move forward step by step with local government permission,” the company added.
Along with the digital and real-world rebrand, Mobike’s app will eventually be scrapped after users have been moved over to Meituan’s app, which will get a bike-share button alongside its food delivery and meal deals.
At the last count, Mobike has 9 million bikes in over 200 cities across 19 countries.
Meituan Bike’s global PR boss, Steve Milton, told Tech in Asia earlier this month that the crew will focus on “improving operational efficiency” in 2019, with no set plans for further expansion.
The cautious mood comes amid serious struggles for archrival Ofo, which ended 2018 by conceding it was fighting for survival in the middle of a cash crunch.
Editing by Charmaine de Lazo
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