Chinese Bike-Rental Startup Ofo Eyes Global Expansion

The video discusses China's commitment to green energy, focusing on the bike-sharing startup Ofo, which raised $700 million. Ofo, backed by Alibaba, is competing with Mobike, backed by Tencent, in a market likened to a proxy war. The model is more bike rental than sharing, with users not required to return bikes to specific locations, posing risks. Ofo plans to expand to 20 countries with 20 million bikes, already having 6.5 million bikes in 150 cities. The business model is costly due to production, inventory risks, and theft, with significant operational challenges in cities like Beijing and Shanghai.

What significant amount of funding was raised for the bike sharing startup Ofo?

What are the names of the two main competitors in the bike sharing market mentioned in the text?

How does the bike rental model of Ofo differ from traditional bike sharing?

What challenges does Ofo face in terms of inventory and theft?

What are Ofo's expansion goals in terms of countries and number of bikes?