Chinese ride hailing app Didi Chuxing is in talks to take over Ofo as the bike-sharing start-up bleeds cash in the cut-throat sector.
Once one of the fastest-growing fads in China, dockless bike-sharing companies proliferated over the past couple of years and expanded rapidly across the globe.
However, the fight for market share led rival groups to burn through vast sums of money and after some fell by the wayside, the sector has now been reduced to two companies: Alibaba-backed Ofo and Mobike, which was bought this year by food delivery and services company Meituan Dianping.
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