21-10-2016 01:23 via uk.news.yahoo.com

Two-wheel drive: China tech giants bet on 'Uber for bikes' in hunt for next unicorn

China's tech industry giants are sloughing hundreds of millions of dollars into what they're betting will be the country's next big internet craze - 'Uber for bikes'. A symbol of China's cities long before a boom in cars, snarling traffic and smog, the humble bicycle is making a comeback. Start-ups equipped with smartphone apps, GPS and scannable codes are selling cheap bike-sharing to city-dwellers as the way to beat jams on China's most clogged streets.
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