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Bike-share company Mobike Australia goes into liquidation leaving bikes abandoned on streets.

Story by Brett Lackey For Daily Mail Australia • 

Yesterday 3:40 pm

Bike-share company Mobike Australia goes into liquidation leaving bikes abandoned on streets"right orange and silver bicycles were once a common sight across Australia's biggest cities - but the largest bike company in the world's second attempt to crack our tricky rideshare market has been abandoned. 

More than 1600 bikes worth about $1.3million in total built by Chinese start-up Mobike have been left sitting in warehouses and on streets on Australia's east coast.

Mobike was founded in Shanghai in 2015 by former technology journalist Hu Weiwei and quickly boomed thanks to nearly $1billion in investor funding and the share-economy trend of the late 2010s. 

It expanded into other regions and countries before landing on Australian shores in 2017 in Sydney and on the Gold Coast.

But bike share companies hoping to crack the Aussie market were met with a wave of difficulties - from vandalism, to theft, and difficult relationships with local councils over the bikes being left in unauthorised spots.  

Mobikes left in a park in Sydney (pictured). The company has gone into liquidation© Provided by Daily Mail

The start-up was founded by Chinese technology journalist Hu WeiWei (pictured) in 2015© Provided by Daily Mail

In 2018, the company was sold to Chinese web conglomerate Meituan-Dianping for about $3.8billion, with Ms Hu and co-founder Davis Wang both leaving the firm that same year. 

By the following year Meituan-Dianping was looking to tighten up its bottom line and chose to shed Mobike's operations in dozens of overseas countries. 

This marked the end of the start-up's first attempt in Australia but its assets were bought by a group of overseas-based investors who re-branded and tried again as Onyahbike - or OBike - by Mobike Australia. /-