Mobike

Mobike was a Chinese bike-sharing company founded in 2015 by Hu Weiwei, a former journalist who saw an opportunity to solve the "last mile" problem in urban transit — the gap between subway stations and final destinations in tier-one cities. The company quickly became one of China's most visible symbols of the sharing-economy boom, raising roughly $1 billion in just two years. In 2018, at the height of its prominence, Hu sold Mobike to Meituan for $2.7 billion, a deal that reportedly netted her roughly 1.5 billion yuan in personal proceeds at age 36, as 暗涌Waves later framed it as a case study-worthy exit. Joy Capital's Erhai Liu was among the investors, with Mobike representing one of his faster-turning bets alongside NIO and Luckin Coffee — though the exact timeline and terms aren't detailed in elsewhere's corpus. The company's rise coincided with the spread of mobile payments and advances in smartphone sensors like gyroscopes and GPS, which enabled the dockless model that distinguished it from earlier bike-sharing attempts. elsewhere's corpus does not cover Mobike's subsequent integration into Meituan or its current operational status.