Sydney cyclists will have one less bike share operator to choose from after Australia-owned company Reddy Go blamed red tape on its decision to quit the city. Reddy Go told users it was “restructuring” its business model due to “regulatory requirements” and members could collect free bikes from its warehouse in Alexandria. The start-up’s business woes follow the decision from Beijing-based dockless bike operator ofo this week to shut down its Australian operations.
Their departures signal a significant shift in the city’s share bike economy as inner Sydney councils continue to grapple with ways to regulate the industry and prevent dumped bikes clogging streets. City of Sydney councillor Jess Scully said changes among the city’s four main share bike operators – Reddy Go, oBike, Mobike and ofo – were “maybe the end of phase one but the model is here to stay”.
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