這就開(kāi)始了,。中國(guó)媒體報(bào)道，中國(guó)第三大共享單車(chē)初創(chuàng)企業(yè)小藍(lán)單車(chē)已停止運(yùn)營(yíng),，成為這個(gè)快速發(fā)展的科技行業(yè)中第一家倒下的大公司,。同時(shí)，許多分析師都認(rèn)為這個(gè)行業(yè)正迅速邁向“清算”時(shí)刻,。

目前中國(guó)有近30家共享單車(chē)公司,，它們都面向智能手機(jī)用戶,，采用隨借隨還，無(wú)樁停放模式,，小藍(lán)單車(chē)就是其中之一,。這家公司2016年開(kāi)業(yè)，吸引了超過(guò)9000萬(wàn)美元（約5.97億元人民幣）風(fēng)投資金,。鼎盛時(shí)期的小藍(lán)單車(chē)稱(chēng)自己擁有2000萬(wàn)注冊(cè)用戶,，投放自行車(chē)超過(guò)70萬(wàn)輛，除中國(guó)外,，它還將業(yè)務(wù)擴(kuò)展到了舊金山和悉尼,。

小藍(lán)單車(chē)在兩個(gè)海外城市的擴(kuò)張嘗試均以失敗告終。在舊金山,，它遇到了來(lái)自當(dāng)?shù)卣缛耸康木薮笞枇?，短短四個(gè)月后便偃旗息鼓。在悉尼,，小藍(lán)單車(chē)的做法是向當(dāng)?shù)毓蚕韱诬?chē)公司Reddy Go提供自行車(chē),，但Reddy Go隨后中斷了和小藍(lán)單車(chē)的合作談判，轉(zhuǎn)而選擇了另一家自行車(chē)提供商,。

不過(guò),，小藍(lán)單車(chē)在國(guó)內(nèi)的財(cái)務(wù)問(wèn)題直到上周才全面爆發(fā)——國(guó)內(nèi)社交媒體上出現(xiàn)了對(duì)該公司的抱怨之聲。用戶憤怒地表示已經(jīng)不能用小藍(lán)單車(chē)app給自行車(chē)開(kāi)鎖,，退還押金的要求也未得到該公司回應(yīng),。到小藍(lán)單車(chē)北京總部采訪的國(guó)內(nèi)新聞?dòng)浾甙l(fā)現(xiàn)這家公司已經(jīng)人去樓空。媒體消息稱(chēng),，小藍(lán)單車(chē)上周三遣散了員工,；多位高管證實(shí)他們已經(jīng)離職。多篇報(bào)道指出小藍(lán)單車(chē)欠下了30萬(wàn)美元（約199萬(wàn)元人民幣）的寫(xiě)字樓租金,。一家為小藍(lán)單車(chē)提供自行車(chē)的企業(yè)向《環(huán)球時(shí)報(bào)》透露,，小藍(lán)單車(chē)拖欠的款項(xiàng)超過(guò)150萬(wàn)美元（約995萬(wàn)元人民幣）。

上周四晚,，小藍(lán)單車(chē)首席執(zhí)行官李剛發(fā)表公開(kāi)信,，稱(chēng)另一家國(guó)內(nèi)企業(yè)正在收購(gòu)小藍(lán)單車(chē)。他寫(xiě)道：“作為一位CEO,，我做錯(cuò)了……曾經(jīng)我自詡勇敢不慫……”李剛同時(shí)否認(rèn)自己已經(jīng)出境,。

中國(guó)金融投資網(wǎng)報(bào)道，今年2月小藍(lán)單車(chē)融資4億元人民幣,，領(lǐng)投方為如今看來(lái)名字頗為應(yīng)景的北京風(fēng)投基金黑洞資本,，跟投方為智能星通。當(dāng)時(shí)對(duì)小藍(lán)單車(chē)的估值為10億元人民幣）,。

在小藍(lán)單車(chē)之前,，幾家規(guī)模較小的共享單車(chē)公司在半年時(shí)間里相繼倒閉,，其中包括悟空單車(chē)、3vBike和町町單車(chē),。許多分析師預(yù)測(cè),，這個(gè)行業(yè)即將出現(xiàn)殘酷的整合，最終活下來(lái)的只會(huì)有一,、兩家公司。業(yè)內(nèi)兩大巨頭——騰訊支持的摩拜單車(chē)和得到阿里巴巴助力的ofo共享單車(chē)——均已融資近10億美元（約66.35億元人民幣）,，而且外界普遍認(rèn)為它們將成為共享單車(chē)領(lǐng)域最后的贏家,。

18個(gè)月來(lái)，中國(guó)共享單車(chē)行業(yè)一直以令人驚訝的速度發(fā)展著,，互為對(duì)手的公司用橙,、黃、藍(lán)等色彩各異的自行車(chē)填滿了城市的大街小巷,。還有很多公司涉足海外市場(chǎng),，進(jìn)入了波士頓、華盛頓,、新加坡和吉隆坡,。

小藍(lán)單車(chē)管理松懈的跡象很明顯。今年夏天,，小藍(lán)單車(chē)app用坦克圖標(biāo)取代了一些自行車(chē)圖標(biāo),，如果用戶騎了坦克圖標(biāo)代表的自行車(chē)，就會(huì)獲得獎(jiǎng)勵(lì),，此舉讓小藍(lán)單車(chē)的這次推廣活動(dòng)顯得頗為怪異,。

在中國(guó)共享單車(chē)行業(yè)，就連管理完善的公司也如同逆水行舟,。這個(gè)行業(yè)的泡沫早已昭然若揭,，參與者甚眾，支持它們的風(fēng)投資金太多,，它們追逐的利潤(rùn)卻太少,。行業(yè)洗牌在所難免。真正的問(wèn)題在于,，小藍(lán)單車(chē)的倒閉是否預(yù)示著中國(guó)其他互聯(lián)網(wǎng)相關(guān)行業(yè)也將出現(xiàn)類(lèi)似的整合,。（財(cái)富中文網(wǎng)）

譯者：Charlie?

And so it begins. Chinese media report that Bluegogo, the nation’s third-largest dockless bike-sharing startup, has ceased operations, becoming the first major casualty in a fast-paced tech sector many analysts warn is hurtling towards a reckoning.

Bluegogo was among nearly 30 Chinese startups allowing users to rent bikes with smartphones and leave them wherever they like. The company launched in 2016 with more than $90 million dollars in venture funding. At its peak, Bluegogo claimed 20 million registered users, deployed more than 700,000 bikes, and launched operations in San Francisco and Sydney as well as China.

Bluegogo’s attempts at global expansion both ended in failure. In San Francisco, the company ran into stiff resistance from local politicians and suspended operations after only four months. In Sydney, Bluegogo supplied bicycles for local bike-sharing venture Reddy Go, but the Australian firm broke off partnership negotiations and dropped Bluegogo in favor of another bike supplier.

But the full extent of Bluegogo’s financial difficulties in its home market didn’t emerge until this week, when Chinese social media erupted in complaints about the company. Users fumed that the Bluegogo app no longer unlocks bikes and that the company isn’t responding to requests for refund of their deposits. Chinese media descended on Bluegogo headquarters in Beijing to discover offices locked and abandoned. Chinese press report that the company dismissed staff on Wednesday. multiple senior Bluegogo executives confirmed that they have left the company. According to several reports, Bluegogo owes $300,000 in office rent. A Bluegogo bike supplier told the Global Times the company owes it more than $1.5 million.

In a public letter released Thursday night, Bluegogo chief executive Li Gang said the company was being acquired by another Chinese firm. “As a CEO, I’ve made mistakes,” Li wrote. “I was filled with arrogance.” He denied reports that he had fled the country.

China Money Network reports that Bluegogo raised $58 million in February led by an aptly named Beijing-based venture fund Black Hole Capital, and Smart Xintong, a Shenzhen-based healthcare equipment developer. The investments valued Bluegogo at $140 million.

Bluegogo’s crack-up follows the collapse of several smaller Chinese bike-sharing companies within the past six months, including Wukong, 3vBike, and Ding Ding. Many analysts predict the industry is headed for a bloody consolidation in which only one or two players survive. The sectors two giants—Mobike, backed by Tencent Holdings, and Ofo, backed by Alibaba Group—have each reached raised roughly $1 billion in funding and are widely tipped as the industry’s final victors.

Over the past 18 months, China’s bike-sharing industry has rolled out with astonishing speed as rival companies saturate city streets with a riot of orange, yellow and blue cycles. Many have launched operations overseas in locations including Boston, Washington D.C., Singapore and Kuala Lampur.

There were clear signs of lax management at Bluegogo. The company ran in to trouble with a bizarre summer promotional campaign that replaced some of the bike icons on its app with icons for tanks, offering prizes to users who rode bikes depicted by tanks.

But in China’s bikes-sharing sector, even well-managed ventures face an uphill climb. It has long been clear that the sector is a bubble, with far too many players backed by far too much venture funding chasing far too little profit. A shakeout was inevitable. The real question is whether Bluegogo’s collapse portends a similar consolidation in other Chinese Internet sectors.