Chinese bike rental startup ofo eyes Taiwan's Giant Manufacturing

The 3-year-old Chinese bike sharing service startup ofo, which has the distinction of being first company bike rental company to gain unicorn status, is considering the acquisition of the Taiwan’s 45-year-old bike manufacturer Giant Manufacturing, according to reports in Chinese media. These media reports stem from a remark made by Cheng Wei, a founder of Didi Chuxing and a member of ofo’s board of directors, in Beijing recently.