Shared bicycle systems have become so popular that there were 20 shared bicycle enterprises encompassing several million actual bicycles and nearly 19 million users in China by the end of 2016, China News reported on Feb. 20.

The ofo bicycle-sharing platform has offered its users great convenience since its establishment in September 2015. Users receive an unlock password by inputting a bicycle number via the mobile app; they can then unlock the bicycle and immediately ride away. Upon reaching a given destination, users lock the bicycle and complete payment.

“Only by combining bicycles with the mobile internet can our service bring users the convenience of finding and returning the bicycles anywhere at any time,” said Dai Wei, founder and CEO of ofo.

According to Dai, the company obtained recognition of capital after copying its business mode in India and Turkey. In December 2016, ofo announced plans to enter the North American and European markets.

Asked about his long-term goals, Dai disclosed that ofo still hopes to improve awareness of the convenience of shared bicycles.