The Chinese bike sharing company had been granted an extension until March 28 because it had told LTA of new partnership plans which would have made it possible to continue its operations in Singapore.
Those partnerships seem to be offering too little, too late. Ofo held a bike sale on April 1st, where it auction off 7,900 of its bikes, symbolic of Ofo’s impending exit from Singapore.
The debt-laden company will now no longer be able to offer its bike-sharing services in the city-state. It has already vacated its Singapore office and fired its operations team.
Meanwhile, fellow competitor Mobike is also making a global retreat back to China. Currently, Mobike is still operating in Singapore while the LTA is evaluating the firm’s request to surrender its bike-sharing license.
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