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Sharing Economy

Singapore bike-sharing rolls toward consolidation

After oBike goes out of business, users wait for deposit refund

Abandoned bikes in Singapore have created a nuisance on roads and an eyesore in parks. (Photo by Mayuko Tani)   

SINGAPORE -- Stronger rules targeting the problem of abandoned bikes in Singapore have driven one bicycle-sharing business to shut down, signaling that a whittling of the industry may be around the bend.

The oBike service, which claims 1 million registered users, said Monday it would cease operations that day. The abrupt closing left the company's surprised users in limbo, unsure whether their deposits of 49 Singapore dollars ($36) will be returned.

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