China’s entrepreneurs show their creativity and acumen with the evolution of Ofo and Mobike bike sharing business models. Key takeaways:
- Ofo is booking 20 million bike rides per day.
- As a result, the Ofo app is generating 100-200 million views per day.
- Combined with user data such as time of day and time of day, it’s now a platform for highly targeted advertising.
- For a typical mobile app, the cost of acquiring a user via mobile media buy is 15 yuan (US$2.21). Because the branded bicycles serve as a customer acquisition tool, Mobike’s customer acquisition cost is around 10 yuan ($1.47).
- This is possible because Chinese cities do not regulate sidewalks. As a result, Ofo and Mobike have placed millions of bicycles on the streets of Beijing, Shanghai, and Shenzhen.
Read The Information article here.