BEIJING, April 4 (Xinhua) -- Mobike said Wednesday it has signed a deal with Meituan, which fully purchased the bike-sharing firm.
Under the deal, Mobike, China's leading bike-sharing company, will keep its management team and brand, said a joint press release from the two firms.
Wang Xing, CEO of Meituan, will be chairman of Mobike. Meituan is an online platform for ordering food, buying movie tickets and booking restaurants.
The deal will create a new consumer experience for users. The value of the deal was not disclosed.
Mobike has huge social value in promoting low-carbon lifestyles. Meituan will fully support Mobike in pursuing technological innovation, said Wang.
Mobike, founded in 2015, has more than 200 million users and provides over 30 million rides per day.
