Bike-Share Battle: Ofo Takes on Mobike and Didi Chuxing
Bike-sharing is a tech and transportation trend that is exploding around the world. With a fleet of over 10 million bikes worldwide, Ofo is positioning itself to be a leader in the space. Chris Taylor, Head of Ofo North America, joined us to share the companies strategy to take on the heavy competition.
Ofo is one of two $1 billion bike-sharing companies from China. Now, ride-hailing giant Didi Chuxing plans to roll out its own platform. Taylor discussed how Ofo will respond to the move that puts its marketshare at risk.
Taylor was one of Uber's first employees. He says the drama-riddled company was prone to the scandals because of its rapid expansion. Taylor said there was a focus on growing as quickly as possible and it was missing the infrastructure needed at such a large company.
Union leaders and Hollywood studios reached a tentative agreement Sunday to end a historic screenwriters strike after nearly five months, though no deal is yet in the works for striking actors.
The Week's Top Stories is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street. This week we're highlighting, Microsoft and Activision Blizzard, the UAW strike, Fox Corp. and News Corp. shake-up, interest rate decision, and Cisco scooping up Splunk.
