Bike share company ofo's U.S. presence shrinks to a fraction of its former self, slashing its headcount and ending service in all but three U.S. cities.
The Bike Share industry is changing quickly in the United States, with the recent acquisition of Motivate by Lyft and now a major cutback in services offered by the dockless bike share company, ofo. Company fficials say ofo company is going into "Sleep Mode" in North America. While they had been expanding aggressively, they will now eliminate service in all U.S. cities except for Seattle, New York, and San Diego, according to reporting in Quartz from Alison Griswold.
The international dockless bike share company, whose original and biggest market is in China, will also eliminate operations in Germany, Israel, and Australia. They say they also have plans to dial back their operations in the United Kingdom.
FULL STORY: Bike-sharing company Ofo is dramatically scaling back in North America
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