ๆปดๆปดๆถ่ดญofoๆไปถๆๅ ๏ผๆปดๆปดๆๆ๏ผ10ๆ9ๆฅๅฐฑ่พ่ฟ่ฐฃไบ โ Sina Tech
What happened: Didi Vice President Li Min has denied rumors that the company planned to invest $500 million in bike-rental firm Ofoโs Series F in August, calling the comments โfoolish.โ Min made the remarks on popular messaging app WeChat after the claims began circulating on various Chinese media websites, citing anonymous sources and publishing alleged financing documentation.
Why itโs important: The Chinese bike-sharing firm has been teetering on the edge of bankruptcy following retreats from international markets and rumors of layoffs. As Ofoโs story has gone viral on Chinese social media, the public is looking for answers relating to what killed the failing unicorn. Pony Ma, CEO of Tencent, commented on one of his employeeโs WeChat posts, indicating that one significant reason for the companyโs failure was veto rights. Ofoโs investors, mainly Alibaba and Didi, have subsequently been suspected by netizens of standing as barriers to the management of the company by using their veto rights.
