Ofo Bike Case Study Business & Marketing Case Study (Case Study Sample)

A case study on Ofo Bike
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1 INTRODUCTION
In the current cosmopolitan world, the success of any business entity is determined by how the leaders incorporate both external and internal environment to achieve positive results. Ofo Bike is Beijing based bike-sharing firm and is one of the successful businesses that have existed in Singapore. Despite being founded in 2014 by five members of the Peking Cycling Club, the company made expansions to its operations to several countries and almost all major cities of the world -250 cities in 20 countries (Wikipedia 2018, May 6). By june 2015, the company had 2000 bicycles and at least 20000 users. A Funding of U.S $130 million was received from Xiaomi and Didi Chuxing technology companies enabled the company to expand to the international scene where it launched its operations in Singapore on February 2017, later the U.K, Seattle In America and Australia(Wikipedia 2018. 6 May). After that, Ofo expanded to16 more countries. Currently, the company is valued at two billion U.S dollars with a customer base raking around 62.7 million each month. The company has more than ten million bicycles in its inventory that it hired out to its customers by 2017.