Friday Flashback: China's Ofo to Halt Overseas Operations Know what happened in the APAC region over the past week

By Nidhi Singh Jan 12, 2019

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

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.

Nidhi Singh

Former Correspondent, Entrepreneur Asia-Pacific

A self confessed Bollywood Lover, Travel junkie and Food Evangelist.I like travelling and I believe it is very important to take ones mind off the daily monotony .

Most Popular

See all

Business News

Elon Musk Is Still the Richest Person in the World and Just Hit a Record Net Worth of Over $400 Billion. Here's How.

Several factors have helped the world's richest person reach the milestone.

By Erin Davis

Science & Technology

Use This Framework to Successfully Integrate AI Into Your Business Operations

Here's how to ensure both innovation and compliance when using AI in your organization.

By Majeed Javdani

Growing a Business

Why Business Owners Should Streamline Their Operations Now for Success in 2025

As the holiday season and year-end approach, business owners face heightened operational demands, from inventory management to spend control. By streamlining these processes and partnering with flexible suppliers, businesses can maintain efficiency, meet customer needs and focus on growth while navigating this busy period.

By Ashley Hubka

Marketing

He Pitched His First Business at 12 and Sold a Company for 8 Figures When He Was 23. Here's This Gen Z Marketing Expert's Next Big Move.

Griffin Haddrill built a marketing empire working with artists like Justin Bieber and Lil Nas X. Learn how he tapped into Gen Z's digital culture and turned viral campaigns into a business model.

By Leo Zevin

Growing a Business

5 Effective Strategies to Boost Your Business's Online Presence

Boosting your online presence in 2025 is the key to success for businesses looking to grow. Working on your branding and reputation management is important to drive more sales and improve conversion.

By James Dooley