[1] The company was founded by entrepreneur Lei Houyi in 2016, inspired by the success of other bicycle-sharing systems in Beijing and Shanghai.
[3] The system debuted in January 2017, with 1,200 bicycles serving 16,000 users in Chongqing, charging 0.5 yuan per ride.
The lack of GPS equipment led to the theft of 90 percent of Wukong's fleet; additionally, the hilly terrain in Chongqing dissuaded use of the bicycles.
[5][6] Future models were planned come with GPS trackers, along with a national rollout to ten cities by June 2017.
[4] On June 21, Wukong announced that it would cease operations within 30 days, retrieving its bicycles and refunding users.