Ofo

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A Mobike dockless bikeshare bicycle is shown in this July 26, 2018, photo parked outside the Wilson Building in Washington, D.C. Mobike and rival company Ofo announced they were withdrawing their services from the District, blaming the city's regulatory restrictions. (Julia Airey/The Washington Times)

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In this Sunday, March 19, 2017 photo, a worker fixes a bicycle's tyre at the repair station for the bike-sharing company Ofo in Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as U.S. 7 cents for half an hour, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)

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In this Tuesday, March 21, 2017 photo, damaged bicycles from bike-sharing companies Ofo and Bluegogo are placed near garbage bags on the sidewalk in Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as U.S. 7 cents for half an hour, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)

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In this Thursday, March 16, 2017 photo, a woman rides a bicycle from bike-sharing company Ofo past a billboard with the slogan "Environment protection starts from you and me" displayed near a construction site at the Central Business District of Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as U.S. 7 cents for half an hour, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)

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In this Thursday, March 16, 2017 photo, a man the bike-sharing application on his smartphone to unlock the bicycle from bike-sharing company Ofo parked on the sidewalk in Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as U.S. 7 cents for half an hour, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)

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In this Friday, March 17, 2017 photo, a woman rides a bicycle from bike-sharing company Ofo past office buildings during the morning rush hour in the Central Business District of Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as U.S. 7 cents for half an hour, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)

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In this Tuesday, March 21, 2017 photo, commuters use bicycles from bike-sharing company Ofo placed on the sidewalk in Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as U.S. 7 cents for half an hour, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)

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In this Tuesday, March 21, 2017 photo, a staffer at right from the bike-sharing company Ofo demonstrates to a man the use of the bike-sharing application on his phone as other workers unload bicycles to a sidewalk in Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as U.S. 7 cents for half an hour, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)

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In this Tuesday, March 21, 2017 photo, a bicycle of bike-sharing company Ofo parked in a residential building compound in Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as U.S. 7 cents for half an hour, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)

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In this Tuesday, March 21, 2017 photo, commuters ride bicycles from bike-sharing companies Ofo and Mobike past a traffic light junction during the morning rush hour in Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as U.S. 7 cents for half an hour, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)

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In this Tuesday, March 21, 2017 photo, a woman walks past a bicycle of bike-sharing company Ofo with its seat removed parked near a bicycle from its competitor Bluegogo on the sidewalk in Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as 7 cents a ride, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)

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In this Tuesday, March 21, 2017 photo, a man rides a bicycle from bike-sharing company Ofo past bicycles from competitors like Mobike and Bluegogo parked side-by side along a road in Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as U.S. 7 cents for half an hour, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)

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In this Wednesday, March 22, 2017 photo, people ride bicycles of bike-sharing companies Ofo, left, and Mobike, right, past a corner tower of the Forbidden City in Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as U.S. 7 cents for half an hour, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)

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In this Thursday, March 23, 2017 photo, residents ride bicycles from bike-sharing company Ofo try to pedal through a sidewalk crowded with bicycles from the bike-sharing companies Ofo, Mobike and Bluegogo, near a bus stand in Beijing, China. As many as 2.2 million of these two-wheelers have been deployed, which are available for rent for as little as U.S. 7 cents for half an hour, in the latest symbol of heavy spending in China's internet sector where startups are in a race to attract more users to their services. (AP Photo/Andy Wong)