>having raised $90 million in venture funding Example of an asset rental business masquerading as a sharing economy market. I'm always surprised at old-school business that think by adding e-Commerce or mobile app or bitcoin payment they believe their valuation should be that of unicorn potential. On the other hand, perhaps this says something about the guilibility of Wall-street financiers.
On Monday, 27 November 2017 10:28:11 UTC-6, Dean Collins wrote: > > From Dan Primacs email this morning...... > > > > > Mingbike, a Chinese bike-share company, appears to have shut down. Some > laid-off employees have complained via social media that they haven't been > paid in months, while users have been unable to receive deposit refunds. > > * Why it's the BFD: Because this is the third Chinese dockless > bike-share startup to go bust in recent months, following Bluegogo and > Coolqi. > * More: Bluegogo is the largest such failure, having raised $90 million > in venture funding - including from a firm actually called Black Hole > Capital... how was that not a red flag? - and rolling out 600,000 bikes. > One contributing factor seems to have been a June app modification (unclear > if poorly-conceived ad campaign or a hack) that changed Bluegogo bike icons > to tank icons. The result in Beijing was that it looked like tanks were > rolling toward Tiananmen Square. > * Bottom line: "China's bike-sharing market, overcrowded with more than > 40 platforms, have attracted US$2 billion in funding over the last 18 > months, making it one of the most popular industries for private equity, > venture capitalists and angel investors." - Sarah Dai, South China Morning > Post< > http://link.axios.com/click/11389835.7510/aHR0cDovL3d3dy5zY21wLmNvbS90ZWNoL3N0YXJ0LXVwcy9hcnRpY2xlLzIxMjE0MDMvd2ludGVyLWRlc2NlbmRzLWNoaW5hcy1vbmNlLWhvdC1iaWtlLXNoYXJpbmctbWFya2V0LWFub3RoZXItcGxheWVyP3V0bV9zb3VyY2U9bmV3c2xldHRlciZ1dG1fbWVkaXVtPWVtYWlsJnV0bV9jYW1wYWlnbj1uZXdzbGV0dGVyX2F4aW9zcHJvcmF0YSZzdHJlYW09dG9wLXN0b3JpZXM/5841ec813f92a47b9bba9d7bB9c803dfc> > > > > [cid:[email protected]]< > http://link.axios.com/click/11389835.7510/aHR0cHM6Ly93d3cuZmFjZWJvb2suY29tL3NoYXJlci5waHA_dT1odHRwczovL3d3dy5heGlvcy5jb20vcHJvLXJhdGEtMjUxMjY5NjM2NS5odG1sP3JlYmVsbHRpdGVtJTNEMiUyNnV0bV90ZXJtJTNEZmJzb2NpYWxzaGFyZSUyM3JlYmVsbHRpdGVtMiZ1dG1fc291cmNlPW5ld3NsZXR0ZXImdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249bmV3c2xldHRlcl9heGlvc3Byb3JhdGEmc3RyZWFtPXRvcC1zdG9yaWVz/5841ec813f92a47b9bba9d7bCc024c990 > >[cid:[email protected]]< > http://link.axios.com/click/11389835.7510/aHR0cHM6Ly90d2l0dGVyLmNvbS9pbnRlbnQvdHdlZXQ_dGV4dD1UaGUlMjBCRkQlMjAmaGFzaHRhZ3M9YXhpb3Nwcm9yYXRhJnVybD1odHRwczovL3d3dy5heGlvcy5jb20vcHJvLXJhdGEtMjUxMjY5NjM2NS5odG1sP3JlYmVsbHRpdGVtJTNEMiUyNnV0bV90ZXJtJTNEdHdzb2NpYWxzaGFyZSUyM3JlYmVsbHRpdGVtMiZ1dG1fc291cmNlPW5ld3NsZXR0ZXImdXRtX21lZGl1bT1lbWFpbCZ1dG1fY2FtcGFpZ249bmV3c2xldHRlcl9heGlvc3Byb3JhdGEmc3RyZWFtPXRvcC1zdG9yaWVz/5841ec813f92a47b9bba9d7bC08651db9 > >[cid:[email protected]]< > http://link.axios.com/click/11389835.7510/aHR0cDovL3d3dy5saW5rZWRpbi5jb20vc2hhcmVBcnRpY2xlP21pbmk9dHJ1ZSZ1cmw9aHR0cHM6Ly93d3cuYXhpb3MuY29tL3Byby1yYXRhLTI1MTI2OTYzNjUuaHRtbD9yZWJlbGx0aXRlbSUzRDIlMjUyNnV0bV90ZXJtJTI1M0RsaXNvY2lhbHNoYXJlJTI1MjNyZWJlbGx0aXRlbTImdXRtX3NvdXJjZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbXBhaWduPW5ld3NsZXR0ZXJfYXhpb3Nwcm9yYXRhJnN0cmVhbT10b3Atc3Rvcmllcw/5841ec813f92a47b9bba9d7bCf8b991ee > >[cid:[email protected]]<mailto:?subject=From%20Axios%3A%20The%20BFD%20&body=dean% > 40cognation.net > %20has%20shared%20an%20Axios%20story%20with%20you%3A%0A%0AThe%20BFD%20%0Ahttps%3A%2F% > 2Fwww.axios.com%2Fpro-rata-2512696365.html%3Frebelltitem%3D2%26utm_term%3Demshare#rebelltitem2> > > > > > > > Regards, > > Dean Collins > Cognation Inc > [email protected] <javascript:> > <mailto:[email protected] <javascript:>>+1-212-203-4357 New York > +61-2-9016-5642 (Sydney in-dial). > +44-20-3129-6001 (London in-dial). > > -- -- You received this message because you are subscribed to the Silicon Beach Australia mailing list. Vist http://siliconbeachaustralia.org for more Forum rules 1) No lurkers! It is expected that you introduce yourself. 2) No jobs postings. You can use http://siliconbeachaustralia.org/jobs To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/silicon-beach-australia?hl=en?hl=en --- You received this message because you are subscribed to the Google Groups "Silicon Beach Australia" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
