Atlanta can expect to see one less dockless travel option around town starting this week.
Exactly one month after announcing its official launch in Atlanta, Ofo, a dockless bike company based in China, has announced it is exiting multiple U.S. and international markets---including Atlanta---as part of a corporate-wide financial restructuring.
Forbes reports the company laid-off about 70 percent of its U.S. staff on Wednesday.
A source with the company confirmed with Atlanta Inno Friday afternoon nearly 200 Ofo bikes launched around the city last month would be collected and either donated, scraped or shifted to other markets that are remaining open.
"As we continue to bring bikeshare to communities across the globe, Ofo has begun to reevaluate markets that present obstacles to new, green transit solutions, and prioritize growth in viable markets that support alternative transportation and allow us to continue to serve our customers," Andrew Daley, Ofo's Head of North America, said in a prepared statement.
Ofo was one of several dockless bike, scooter and moped companies to launch in Atlanta this summer ---and now face regulation from city leaders. Bird scooters, Lime bikes and scooters and Muving mopeds still continue to operate in the city.
Quartz reported that Ofo will maintain operations in Seattle, San Diego and New York.
