// startup autopsy
Mobike
China's premium dockless bike leader, acquired by Meituan for $2.7B and quietly wound down.
acquisition gone wrongSilent Shutdown
Quiet closure with no public announcement · Fatal mistake: Strategic Failure
// the model, blind
Evaluating only Mobike’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. Documented cause: Acquisition gone wrong.
Key Events Timeline
FOUNDING
Mobike founded in Beijing with smart-lock bike-sharing technology
FUNDING
Series A funding round raises $15M, rapid expansion to 56 cities
FUNDING
Series E funding closes at $900M valuation with Alibaba and Tencent backing, deploys bikes in 200+ cities across Asia and Europe
ACQUISITION ATTEMPT
Meituan acquires Mobike for $2.7B but struggles to integrate hardware logistics into food delivery platform operations
PIVOT
International operations suspended; exits North America and Europe markets, focuses on China-only presence under Meituan
SHUTDOWN
Silent Shutdown: Mobike ceases operations, brand retired as Meituan consolidates bike-sharing under alternative services