Bike Sharing: Promoting Health, Affordability, and Efficiency
Can Bike Sharing alleviate the traffic chaos in bustling cities? To some extent, yes! This affordable, quick, and easily accessible transportation method offers a dynamic, interactive, healthy, and straightforward solution. Capitalizing on the bike sharing trend by investing in related domain names presents a promising opportunity. Keep reading to learn more!
Bike Sharing Expands Globally: Convenient and Healthy
Users can pick up a bike at one location and drop it off at another, without needing to return it to the original spot. Payments and tracking are all handled through a smartphone app. The bike-sharing business is not only affordable, at $0.14 per hour, but also promotes both physical and financial well-being. Its success has attracted automotive giants like Ford to invest in the industry. Through an initiative called Ford City Solutions, they plan to initially provide 7,000 bikes for San Francisco residents.
Research indicates that by 2020, the bike-sharing market will be worth $5.8 billion, with an estimated average annual growth of 20%. Mobike, a major player, began expanding into Singapore in 2017. Another giant, OFO, founded in 2014, has over 1.5 million registered users and aims for a significant share of this market. Rapid urbanization and increasing traffic congestion have made bikes an economical, fast, and healthy alternative. Low product costs contribute to the business’s viability, with an OFO bike costing around $36 USD. Users can unlock bikes via a code sent to their smartphones, reducing technological costs. Additionally, bikes can serve as advertising spaces, further enhancing their value.
Apple & Ofo
Ofo Gains Momentum with Apple Joining as a New Investor
Major investors recognize the potential of bike sharing, and the latest to join is Apple. Tim Cook visited OFO’s Dai Wei in China, impressed by over 2 billion sharings since its inception. The investment amount from Cook remains undisclosed. As of March 2017, OFO has secured $1 billion in investments.
Following Singapore, London and California are next in line for bike sharing expansion. Interested in investing in Bike Share? At the moment, we don’t have names available in this segment. If you require a bikeshare domain, contact us, and we’ll help you find a partner seller.
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