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Chinese Ninebot Buys US Rival Segway

Posted by samzenpus on from the lean-into-it dept.

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.

7 of 134 comments (clear)

  1. "unfortunate" by Anonymous Coward · · Score: 5, Funny

    Can we keep bias out of the summaries, please?

  2. Wasn't quite the revolution ... by gstoddart · · Score: 5, Interesting

    It was supposed to change the world, but it didn't.

    But, I was in a busy downtown once and saw an older gentleman with only one leg riding on a Segway ... I bet for him, the Segway was no joke.

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    Lost at C:>. Found at C.
  3. Why by Jodka · · Score: 4, Informative

    From (the last sentence of) the linked article:

    Segway last year filed a complaint to the U.S. International Trade Commission accusing Ninebot and other businesses of infringing on its patents.

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    Ceci n'est pas une signature.
  4. Re: and the death of its owner by BarbaraHudson · · Score: 5, Funny

    He isn't dead, he's just seg-faulted :-)

    --
    "Transparent" is a shit show that trades on every stereotype going. A man in drag is NOT a transsexual.
  5. Re:Segways are awesome by Tablizer · · Score: 4, Insightful

    If you're obese or out of shape, I guess. For the rest of us, a walking tour is good exercise.

    Perhaps, but I'm getting older and walking becomes ever more uncomfortable as my feet and legs get older. The warranty is expiring on everything and the parts just don't like the pounding. I should probably be a good boy and just "man up" and accept the discomfort for health reasons, but why have modern conveniences if you can't use them?

    Discipline Smischipline! And git your Segway off my lawn!

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    Table-ized A.I.
  6. Re:Segways are awesome by MobyDisk · · Score: 4, Informative

    Walking: 3mph.
    Segway: 12mph.

  7. The Revolution hasn't arrived yet by popo · · Score: 4, Insightful

    This tech is soon going to be coupled with:

    a) Robots
    b) Self driving 2-wheel vehicles

    But here's the more important takeaway from this:

    Ninebot stole Segway's technology. Segway sued them and the case went nowhere as Ninebot's profits soared. Then Ninebot bought Segway.

    See the business model here?

    --
    ------ The best brain training is now totally free : )