People stole nearly all of the bikes belonging to a shared-bike startup, so it had to

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People stole nearly all of the bikes belonging to a shared-bike startup, so it had to

People stole nearly all of the bikes belonging to a shared-bike startup, so it had to close down

All of those vandalised bikes were going to drive one of China's bike-sharing companies out of business sooner or later. That time has come.*

Wukong Bike — one of an estimated 30 bike-sharing startups in China — has closed after a mere six months of operations. It had ** choice: it lost nearly 90 percent of its bicycles to mischief and theft.*

SEE ALSO: Shared bikes are so popular, they've squeezed humans out of this park


The company had a fleet of 1,200 bicycles in the city of Chongqing.



A rare group photo of the bicycles.

Image: Wukong bicycle/Weibo


Like many of its competitors, Wukong offered bikes for rent under the Uber model of "sharing" a bike — grab one off the street, unlock it with an app, and simply leave it by the side of the street at your destination. Read more...

More about China, Sharing Eco**my, Mobike, Ofo, and Bike Sharing

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