Ofo founder talks down merger

Updated 2017-12-19 11:30:18 Global Times

Dai Wei, founder of Chinese bike-sharing company ofo, has called for "respect for entrepreneurship," rebuffing calls by some investors for a merger with competitor Mobike.

Capital could drive the fast growth of start-ups, but investors should also fully take the determination of start-ups into account, Dai said during a conference on Monday, according media reports.

"Competition will propel the development of a company, and I believe cooperation will prevail in the bike-sharing sector," he said.

Some investors have publicly called for a merger between ofo and Mobike. Zhu Xiaohu, president at GSR Venture, said in September that the two companies could only become profitable if they merged.

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58November 17 2018 18:47:24

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16November 17 2018 18:47:24

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18November 17 2018 18:47:24

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

China World Business Sports Showbiz Audio
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
China World Fun Travel Entertainment Sports
Beijing Shanghai Guangzhou
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords