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Meituan IPO fact-checks Mobike's fanciful numbers • Bloomberg
Tim Culpan:
<p>Compare the details in the prospectus with statements made in press releases and the divergence is striking. 

Consider user numbers.

In a December press release, Mobike claimed 200 million users worldwide. That figure has been repeated often, with the most recent example I could find coming in July.

Meituan’s prospectus says otherwise:
<p>With 48.1 million Active Bike Users, 7.1 million Active Bikes and over 1.0 billion rides completed in the four months ended April 30, 2018, Mobike is a leading player in bike-sharing.</p>

Let’s skip past the fact that Mobike was claiming nine million bikes, not the actual 7.1 million, and look at that last data point: 1 billion rides.

In October, Bloomberg cited Mobike’s statement that it was “the clear leader in the global bikesharing industry,  supporting 30 million rides in 180 cities around the world every single day” (emphasis added). Just a month earlier it was telling the world it “supports over 20 million rides every day” (emphasis added). 

With 119 days during the period cited in Meituan’s prospectus, Mobike was actually averaging 8.4 million trips daily — 70% fewer than it had been claiming.</p>

I get the feeling that Culpan is tired of being lied to by these companies. So the fact that their prospectus has to be truthful is amusing.
bikes  propaganda 
3 days ago by charlesarthur
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Der Alleskönner rund ums Fahrrad. Ballistol schmiert, kriecht, konserviert, desinfiziert und schützt vor Rost.
bikes  frames  cycling 
8 days ago by mikael

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