Cash giveaways for free rides: inside China’s bike-sharing battleground

China's bike-sharing market, in which 30 companies are vying for market share, is the latest battleground pitting cash-flushed apps against each other in a war of subsidies, gifts and lucky draws. Mobike, flushed with US$300 million of 2017 funding by China's biggest social network operator Tencent Holdings and Singapore's strategic investor Temasek Holdings, launched an aggressive feature last weekend to grab market share.