| Founded | 2014 |
|---|---|
| Closed | 2019 |
| Country | China |
| Sector | Mobility |
| Total raised | $2.2B (Alibaba, Didi, SoftBank, DST, 2014–2018) |
| Collapse type | Mass Layoff Spiral |
| Founder | Dai Wei |
ofo
"Yellow bikes everywhere. $2.2B raised. 12M users formed a refund queue that never moved."
Cascading layoffs that accelerated the decline
Key Events Timeline
ofo was founded in 2014 by Dai Wei and four co-founders at Peking University, pioneering the dockless bike-sharing model — users locate bikes via app and leave them anywhere.
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