Ofo (company)
| Company type | Private |
|---|---|
| Industry | Transportation |
| Founded | 2014 |
| Founder | Dai Wei |
| Fate | defunct (2020) |
| Headquarters | Beijing, China |
Areas served | |
Key people | Dai Wei |
| Products | Bicycle sharing services |
| Website | ofo.com (archived) |
ofo (/ˈoʊfoʊ/) was a Beijing-based bicycle sharing company founded in 2014. It used a dockless system with a smartphone app to unlock and locate nearby bicycles, charging an hourly rate for use.
In 2017, the ofo company had deployed over 10 million bicycles in 250 cities and 20 countries. The company was valued at up to US$2 billion and had over 62.7 million monthly active users.
In 2018, ofo announced massive reduction in operations, including withdrawing from most US cities and from several entire countries. By 2020, facing a large amount of unpayable debt, the company was no longer operating bike rentals.