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Sharing Economy

Ofo taking bike-sharing to 4 new European markets

Startup battling Chinese rival Mobike for overseas pedal pushers

Singapore is one of the markets where Ofo's bike-sharing service is available.   © Reuters

CHONGQING -- Chinese bicycle-sharing startup Ofo is accelerating its advance abroad with plans to enter the Czech Republic, Italy, Russia and the Netherlands.

In the Czech market, Ofo is working with local authorities to put 300 bikes in Prague and will charge half a euro (59 cents) per 30 minutes. Officials deem the service a way to improve convenience for the public while helping the environment.

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