Chinese Bike-Sharing Startup Ofo Facing Bankruptcy

Bike and scooter sharing startups around the world are dropping like flies as the public rejects the whole concept. It was a sly scheme to get people out of cars and into bike lanes. In San Francisco, scooters are set on fire and thrown in the ocean by fed up citizens. ⁃ TN EditorNot so long ago, Chinese bike-sharing firm Ofo was flush with cash and hailed as a game-changing tech startup. Today, it’s struggling to stay afloat.
Backed by billions of dollars from high-profile investors