Mobike to work with LINE as a strategic investor to boost overseas expansion
Bike-sharing corporation Mobike will work with LINE Corporation, operator of the popular mobile messaging platform, as a strategic investor in its subsidiary in Japan as the Chinese start-up boosts its overseas expansion.
LINE Corporation will take the largest minority stake of under 20 percent, according to a joint statement today.
Mobike seeks to leverage LINE’s existing network and relationship with government agencies, municipalities and companies in Japan.
“Through this capital investment and strategic business partnership with Mobike, we can support the expansion of Mobike’s service in Japan by leveraging our network of local governments and private companies,” LINE Corporation president and CEO Takeshi Idezawa said in a statement.
The two companies will also work together on a series of initiatives to promote the adoption of smart dockless bikesharing in Japan.
“Working together with LINE, we will be able to provide tens of millions of LINE users with a seamless and localized experience for finding, unlocking and paying for bikes with the LINE app,” said Mobile founder and president Hu Weiwei.
Mobike will be integrated into the LINE app as an exclusive bikeshare function so that LINE’s 71 million users in Japan will be able to sign up for Mobike and pay for their rides with the app.
Mobike is already available to Sapporo residents and will officially roll out its service in Fukuoka this week. Mobile officially launched its service in Shanghai in April last year and has since expanded the service to over 200 cities globally.
Mobike’s biggest rival ofo, which is also expanding overseas after its success on China’s campuses and urban areas, partners with Japanese conglomerate SoftBank.
