 "Ofo, bicycle, cycle")
In less than six months from launching its operations in seven cities in India, Alibaba Group-backed Chinese dockless bicycle-sharing company Ofo has decided to shut down its operations. The company has around 30 employees in India.
"We are shutting down our country operation. It is part of a global strategy to shrink the footprint," said Rajarshi Sahai, director of public policy and communications, Ofo.
The company had put dockless bicycles in various campuses and gated communities. It had announced signing MoUs with the Pune Municipal Corporation (PMC) and Coimbatore City Municipal Corporation (CCMC), followed by a series of pilot launches of services
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