Friday Flashback: China's Ofo to Halt Overseas OperationsKnow what happened in the APAC region over the past week

ByNidhi Singh•

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.

Here's a new series on the big developments that took place in the APAC region over the past one week.

1. Chinese bike-rental startup Ofo is dissolving its overseas businesses. According to reports, a cash crisis at the company, which was once a unicorn, is prompting Ofo to stop operations in 20 countries.

2. China has offered Tesla boss Elon Musk permanent residency. Musk was recently in the country for the ground-breaking of Tesla's first overseas factory.

3. WeWork is rebranding as "The We Company" after losing huge investment from SoftBank. The tech company is investing $2 billion in the shared-workspace firm, not the original $16 billion planned.

Wavy Line
Nidhi Singh

Former Correspondent, Entrepreneur Asia-Pacific

A self confessed Bollywood Lover, Travel junkie and Food Evangelist.I like travelling and I believe it is very important to take ones mind off the daily monotony .

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China Technology Cash Crunch News and Trends Tesla Softbank Investments Singapore WeWork Friday Flashback bike sharing

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