A Bike-Sharing Company Failed To Do One Simple Thing, And Now They’re Out Of Business
They have to be kicking themselves over this ridiculous mistake
As we’ve seen people ditch their cars in favor of more sustainable and practical ways to get around town, bike-sharing services have grown from a novelty to big business in cities around the world.
China is home to many booming bike-sharing businesses, but it now appears they’ll be short one company after Wukong Bikes went out of business a mere five months after launching. Sadly, the principals have no one to blame but themselves as they failed to perform one painfully obvious duty.
Putting GPS trackers on the bikes so they weren’t stolen.
The BBC report goes on to say that the poor quality of the bikes compared to competing services also played a hand in slow growth out of the gate, but it pales when compared to the hardship of maintaining only 10% of your inventory less than a half-year into operation.
China has had problems with the treatment of shared bikes, with many tossed into piles on the side of the road when they’re not stolen outright.
Surprised we don't do the same in Belfast given the blank chequebook the ratepayers seem to be picking up https://t.co/ynBp7YiZkz— NI Groanways (@NI Groanways) 1498141362.0
Unfortunately, with so many stolen bikes on the road, those invested in the company will no doubt encounter daily reminders of their failure to do one simple thing to keep their business from going down the drain.