Two bike-sharing companies quit Sydney

11 Jul

Know those tragic views of bikes on the bottom of riverbanks or on top of trees? They might soon be a rare sight, as bike-sharing companies Ofo and Reddy Go are quitting Sydney.

The Australian-owned Reddy Go said the company will be restructuring, and its members would be able to pick up two free bikes from its storage centre in Alexandria.

The Beijing-based Ofo told News Corp that it will cease its Sydney and Adelaide operations within the next 60 days to focus on other markets overseas.

With the closure of the two service companies, the future of dockless bike-sharing industry in Australia is in question. Earlier this month, the Singaporean brand oBike also pulled out of Melbourne following a crackdown by the Environment Protection Authority and its parent company’s liquidation.