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While some may look upon bike share business with disdain, the economics of the industry are quite staggering.

In recent days, giant Chinese bike share scheme Mobike was sold to another China based business for 2.7 billion dollars.

The buyer, a $30B  e-commerce business, Muituan Dianping, also has interests in car sharing and ride-hailing services as well as autonomous vehicles.

The Mobike business adds a solution for end of commute travel and dovetails with Meituan's mission to provide affordable, green, shared transport solutions in the city, especially around Meituan's  'local life service platform' apps ...think connecting consumers with restaurants and other lifestyle points of interest. 

 

Meituan serves more than 320 million customers annually in 2800 cities across China. 

Mobike's silver framed step through bikes with the red wheels can be found in over 200 cities in 15 countries globally, and so far as Australia goes, in Sydney and the Gold Coast after launching there late 2017.

To date Mobike users have ridden over 18 billion kilometres which is equivalent to reducing CO2 emissions by 4.4million tonnes.