Ninebot

A pivotal moment in the company's history occurred in April 2015 when Ninebot acquired Segway, the well-known American pioneer of self-balancing personal transporters. This strategic merger, which happened months after Segway had accused Ninebot of patent infringement, combined Segway's technological patents with Ninebot's manufacturing and design capabilities. The acquisition was supported by an $80 million funding round from investors including Xiaomi, Sequoia Capital, and Shunwei Capital. Following the merger, the combined entity, Segway-Ninebot, operates with strategic headquarters in the US, The Netherlands, and Beijing, with manufacturing centers in the US and China.

The company's business model revolves around the direct sale of its products to consumers (B2C) and supplying scooter-rental companies. Its product portfolio is extensive, featuring electric kickscooters, self-balancing vehicles like the Segway miniPRO, electric bicycles, all-terrain vehicles, and even robotic products like the Navimow lawnmower. Products are often designed to be connected to smartphones, integrating technologies like voice interaction and facial recognition. The introduction of the Ninebot KickScooter by Segway in 2017 was a key factor in fueling the scooter-sharing trend. In 2020, the company achieved a major milestone by going public on the Shanghai Stock Exchange's STAR Market, becoming the first company to list using Chinese Depositary Receipts (CDRs) and the first with a variable-interest entity (VIE) structure to list on a mainland Chinese exchange.