Friday Flashback: China's Ofo to Halt Overseas Operations

Know what happened in the APAC region over the past week

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Former Correspondent, Entrepreneur Asia-Pacific
1 min read

Here's a new series on the big developments that took place in the APAC region over the past one week. 

1. Chinese bike-rental startup Ofo is dissolving its overseas businesses. According to reports, a cash crisis at the company, which was once a unicorn, is prompting Ofo to stop operations in 20 countries. 

2. China has offered Tesla boss Elon Musk permanent residency. Musk was recently in the country for the ground-breaking of Tesla's first overseas factory.

3. WeWork is rebranding as “The We Company” after losing huge investment from SoftBank. The tech company is investing $2 billion in the shared-workspace firm, not the original $16 billion planned.

Latest on Entrepreneur