Self-made billionaire issues public letter denying any infighting, while company says she is leaving for personal reasons
Hu Weiwei, a co-founder of China’s leading bike-sharing firm Mobike, has resigned as chief executive for “personal reasons”, the company said on Sunday.
Hu’s resignation came at a time when China’s bike-sharing business, once regarded as a poster child of China’s online economy, has suffered a number of major blows.
Ofo, a major competitor to Mobike, is in crisis after nearly 12 million users demanded that the firm refund their deposits.
Hu co-founded Mobike in 2015 and grew it into a billion-dollar business within just two years.
Mobike was sold for US$2.7 billion to Meituan-Dianping, China’s largest food delivery service, in April.
It has not been disclosed how much Hu made from the deal, but she agreed to stay at the company.
Hu issued a letter to all Mobike employees on Sunday, announcing her resignation from the position. The letter, which the company confirmed was authentic, was quickly uploaded to China’s major websites and social media accounts.
