Ofo cycle hire firm pulls out of London
At its peak the Chinese bike-sharing startup had 6,000 bikes in several English cities
The Chinese bike-sharing firm Ofo, known for its yellow bikes that users can leave in the street, is pulling out of London.
Alibaba-backed Ofo, which is reportedly teetering on the brink of bankruptcy, already withdrew from Norwich, Sheffield and Oxford last summer to focus on London, after facing problems with take-up and vandalism.
Source: Guardian Transport