and July, it announced that it received funding from other companies, including Didi and Alibaba, but its user usage data dropped after its announcements. This finding rejects the previous hypothesis that investment-related news should have a positive impact on user usage. Generally speaking, got funding is a good news because it means that the company got the funding has the potential to grow or to make great profitability in the future. However, in fact, the download number dropped after an investment news was released. It may because that normal users either don’t care about financial news like investors or professional financial analysists or they see such news from a different angle. Since normal users need to pay a deposit to the bike sharing companies, they are very sensitive to how the cash of the companies flows. Whenever there is an investment news, they may be worried about how their money will be used. When users’ trust of a company decreases, it will be hard for a company to attract new users and keep old users as well. Figure 4.1 Changes of Download Number before and after the Release of Financial-Related News (OFO) Figure 4.2 Changes of Download Number before and after the Release of Financial-Related News (Mobike) Holidays & Festivals The trend of decrease also happens when there is a holiday or festival. From Figure 5.1 and 5.2, after Mobike and OFO stopped their high-density promotion, we can observe that the
and July, it announced that it received funding from other companies, including Didi and Alibaba, but its user usage data dropped after its announcements. This finding rejects the previous hypothesis that investment-related news should have a positive impact on user usage. Generally speaking, got funding is a good news because it means that the company got the funding has the potential to grow or to make great profitability in the future. However, in fact, the download number dropped after an investment news was released. It may because that normal users either don’t care about financial news like investors or professional financial analysists or they see such news from a different angle. Since normal users need to pay a deposit to the bike sharing companies, they are very sensitive to how the cash of the companies flows. Whenever there is an investment news, they may be worried about how their money will be used. When users’ trust of a company decreases, it will be hard for a company to attract new users and keep old users as well. Figure 4.1 Changes of Download Number before and after the Release of Financial-Related News (OFO) Figure 4.2 Changes of Download Number before and after the Release of Financial-Related News (Mobike) Holidays & Festivals The trend of decrease also happens when there is a holiday or festival. From Figure 5.1 and 5.2, after Mobike and OFO stopped their high-density promotion, we can observe that the