“We have seen a significant contraction in the number of bike share operators in Sydney, but that’s not to say the business model is dead,” she said.
Reddy Go sent a text message to members last week which read: “Due to regulatory factors, we are currently restructuring our business model.
Ofo share bikes said it quit Sydney to focus on “priority markets” overseas.
Photo: Supplied
“As part of this restructuring process, all existing memberships will likely be transferred to any new business.”
The message said the company would “offer you and a friend a free bike each as a sign of our gratitude for your loyalty and support” to users who didn’t want to transfer their membership.
University of Technology graduate Donald Tang launched …
Read the full article at: https://www.smh.com.au/national/nsw/bump-in-the-road-as-bike-share-operators-reddy-go-ofo-quit-sydney-20180710-p4zqm1.html