Expanding ofo confident of rolling into profit this year

With profitability appearing achievable last year, ofo Inc is planning a simultaneous expansion at home as well as overseas markets this year, said Dai Wei, the bike-sharing startup's founder and CEO.

Ofo's iconic yellow bikes will be available for rental in 200 Chinese cities and 10 foreign markets by the year-end, Dai, 27, said in an email.

That would signify a major scaling up of operations since ofo has been operating in only 43 Chinese cities and three foreign markets - the United States, the United Kingdom and Singapore - so far.