Slashdot Mirror
Chinese Ninebot Buys US Rival Segway
An anonymous reader writes Xiaomi-backed startup Ninebot, a Chinese maker of electric-powered personal transportation products, has acquired U.S. rival Segway – the two-wheeler upright scooter which has become a running joke, synonymous with various comedic appearances (such as in U.S. sitcom Arrested Development and the 2009 comedy Paul Blart: Mall Cop), and the death of its owner at the hands of an unfortunate Segway-induced cliff fall. However Gao Lufeng, chief executive, still recognizes the potential of the Segway and has bought the U.S. company for an undisclosed amount. Lufeng confirmed that Ninebot had also secured $80mn in funding from Xiaomi and venture capital firm Sequoia Capital.
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