HEAD OF THE DAY
This bike made her a billionaire
🚲 The Mobike Maker
As a tech reporter, Hu Weiwei saw the same urban dilemma every day: endless traffic jams, packed buses, and no bike for the short ride from the subway to a café.
💡 Her solution: a bike that’s always where you need it.
In 2015, she founded Mobike — China’s first keyless bike-sharing platform. No rust, no flat tires, no chains — instead, a shaft drive, solid rubber tires, and a GPS lock with scan-to-unlock.
📈 The concept took off: Within a short time, Mobike conquered hundreds of cities worldwide and became a symbol of smart urban mobility, until competition and oversupply overheated the market.
In 2018, Hu recognized the signs early and sold Mobike to Meituan for around 2.7 billion USD — a rare, perfect exit in an industry full of failed visionaries.
Fun fact: Type her name into Baidu, and the first suggestion is: “Is Hu Weiwei single?”
The China Survival Guide for Western Businesses
Entity setup, WeChat strategy, hiring your first local team. 12+ years on the ground in Shanghai.
