If 2017 was the spring of hope for Chinese bike sharing startups’ international ambitions, 2018 is their winter of despair.
US-based Smule, which is hugely popular across Southeast Asia, just attracted US$54 million led by WeChat maker Tencent. The Chinese firm also runs Joox.
The Chinese startup, which runs a bicycle-sharing service that works through an app, is prepping launch in the city-state by the end of March.
Ant Financial, maker of China’s biggest mobile wallet app, just took a stake in Mynt, which runs Gcash and Fuse Lending in the Philippines.
Chinese phone maker Oppo was the biggest phone brand in its native country in 2016. Next step: winning the fast-growing Indian smartphone market.