# Beijing Mobike Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/beijing-mobike-technology-co

- Industry: Transportation Services
- Headquarters: Beijing, China
- Website: http://www.mobike.com
- Total disclosed funding: $1.2B
- Latest round: Series E (Jun 15, 2017)
- Investors on record: 20

## About

Founded in 2015 and based in Beijing, China, Beijing Mobike Technology Co., Ltd. develops "Mobike" a mobile application that offers bike sharing services. The company offers a dockless bike-sharing service that allows users to locate and unlock bicycles using a mobile app. In 2017, Mobike began its global expansion, launching services in cities across Asia, Europe, and North America. The company's growth attracted substantial investment, leading to its acquisition by Meituan-Dianping, a leading Chinese e-commerce platform, in 2018. This acquisition provided Mobike with additional resources and expertise, further accelerating its technological advancements and global reach.

Mobike's primary product is its fleet of smart bicycles, which are equipped with GPS and IoT technology. These features enable users to locate, unlock, and ride the bicycles using the Mobike mobile app. The app provides real-time information on bike availability, ride history, and payment options, ensuring a seamless user experience. In addition to its standard bicycles, Mobike has introduced electric bikes (e-bikes) to cater to users seeking a more effortless and faster mode of transportation. The e-bikes are equipped with electric motors that provide pedal assistance, making it easier to navigate hilly terrains and cover longer distances. Mobike's services are designed to promote sustainable urban mobility by offering an alternative to traditional modes of transportation. The company's bikes are strategically placed in high-demand areas, ensuring easy access for users and encouraging the use of bicycles for short trips and daily commutes.

Mobike generates revenue through various channels, primarily focusing on user subscriptions and ride fees. Users can choose from different subscription plans, offering unlimited rides for a fixed period, or pay-per-ride options, where they are charged based on the duration of each ride. This flexible pricing model caters to the diverse needs of users, making it an attractive transportation option. In addition to user fees, Mobike has explored partnerships with local governments and businesses to generate additional revenue. These partnerships often involve providing branded bicycles and advertising opportunities, allowing Mobike to monetize its extensive network of bikes and users. The company also collaborates with urban planners and city authorities to integrate its services into public transportation systems, further enhancing its revenue potential.

Mobike aims to continue its global expansion and technological innovation to maintain its leadership position in the shared mobility market.

## Funding rounds

- Series E, Jun 15, 2017, $600M — Hong Shan, TPG, BOCOM International Asset Management, Tencent Investment, Hillhouse Investment, ICBC International, Farallon Capital Management
- Series D, Jan 4, 2017, $215M — Hong Shan, TPG, Warburg Pincus, Huazhu, Tencent Investment, Foxconn Technology Group, Hillhouse Investment, Ctrip / Qunar
- Series D, Jan 4, 2017, $215M — Hong Shan, Warburg Pincus, Huazhu, Ctrip.com International, Ltd., Tencent Holdings Limited, Hillhouse Capital
- Series C, Sep 29, 2016, $100M — Hong Shan, Warburg Pincus, Qiming Venture Partners, Sinovation Ventures, Tencent Investment, Hillhouse Investment, BAI Capital, Joy Capital, Panda Capital
- Series B, Aug 30, 2016, $10M — Sinovation Ventures, Panda Capital, Vertex Ventures China
- Series B, Aug 19, 2016, $10M — Sinovation Ventures, Joy Capital, Panda Capital, Vertex Ventures China
- Series A, Oct 1, 2015, $3M — Joy Capital

## Investors

- Joy Capital (https://capitalatlas.ai/funds/joy-capital) — Series A, Series B, Series C
- Sinovation Ventures (https://capitalatlas.ai/funds/sinovation-ventures) — Series B, Series C
- Panda Capital (https://capitalatlas.ai/funds/panda-capital) — Series B, Series C
- Vertex Ventures China (https://capitalatlas.ai/funds/vertex-ventures-china) — Series B
- Hong Shan — Series C, Series D, Series E
- Warburg Pincus (https://capitalatlas.ai/funds/warburg-pincus) — Series C, Series D
- Qiming Venture Partners (https://capitalatlas.ai/funds/qiming-venture-partners) — Series C
- Tencent Investment — Series C, Series D, Series E
- Hillhouse Investment (https://capitalatlas.ai/funds/hillhouse-investment) — Series C, Series D, Series E
- BAI Capital (https://capitalatlas.ai/funds/bai-capital) — Series C
- TPG (https://capitalatlas.ai/funds/tpg) — Series D, Series E
- Huazhu — Series D
- Foxconn Technology Group — Series D
- Ctrip / Qunar — Series D
- Ctrip.com International, Ltd. — Series D
- Tencent Holdings Limited — Series D
- Hillhouse Capital — Series D
- BOCOM International Asset Management (https://capitalatlas.ai/funds/bocom-international-asset-management) — Series E
- ICBC International (https://capitalatlas.ai/funds/icbc-international) — Series E
- Farallon Capital Management (https://capitalatlas.ai/funds/farallon-capital-management) — Series E