On-demand biking BS

Business & Technology

One of the interesting developments from Meituan-Dianping’s IPO comes from its public filings that concern Mobike, one of China’s biggest on-demand bike companies, which Meituan acquired in April this year for US$2.7 billion.  

Bloomberg’s Tim Culpan has scrutinized Meituan’s filings and found that “Mobike’s press statements appear to overstate daily ridership by a factor of three.” If you want the details of how Mobike has been fudging the numbers, read the whole thing: Meituan IPO fact-checks mobike’s fanciful numbers (porous paywall).