Hello TransTech

About Hello TransTech

Hello TransTech, operating as Hellobike, is a major player in China’s shared mobility market, providing a comprehensive transportation service platform. The company was established in Shanghai in 2016 by a team including Yang Lei, Li Kaizhu, Han Mei, and Jiang Wei. Initially known as Hellobike, the firm strategically targeted second and third-tier cities, a move that allowed it to avoid the intense initial competition in major metropolitan areas and build a substantial user base where public transport was less developed. This approach proved successful, enabling the company to survive the industry's consolidation phase that saw many rivals go bankrupt.

The business operates on a platform-based, pay-per-use model, allowing users to locate and rent vehicles via a mobile app. Its core service is app-based bicycle sharing, but the company has significantly diversified its offerings. The portfolio now includes electric bicycles, electric scooters, carpooling, and ride-hailing services, positioning it as a one-stop-shop for short-distance travel. Revenue is primarily generated from rental fees, with additional income from premium memberships and advertising on its app and vehicles. In 2017, Hello TransTech merged with Youon Bike and later rebranded from Hellobike to Hello TransTech (Hello Chuxing in Chinese) in 2018 to reflect its expanded scope beyond just bicycles.

A key feature of Hellobike's service is its integration of advanced technology. The company utilizes its "Hello Brain" smart transportation OS, which employs big data, IoT, and AI to manage its fleet, monitor vehicle distribution, and predict demand. This system enhances operational efficiency by enabling real-time tracking and intelligent dispatching of its vehicles. The firm has also ventured into energy solutions, forming a joint venture with battery manufacturer CATL and Ant Group to develop a network of battery-swapping stations for its electric vehicles. This initiative supports the expansion of its e-bike and e-scooter services. Hellobike is backed by prominent investors, including Ant Group and Alibaba, which has been crucial for its growth and technological development.