It is reported that ofo founder Dai Wei's second venture project in the United States is in trouble: the capital chain is blocked and the expansion is completely stagnant.

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com May 30 news, according to interface news, ofo founder Dai Wei opened in the United States coffee chain About Time Coffee encountered a business crisis, capital chain broken, expansion plans stalled, some stores have been closed.

The project was reported by Bloomberg in May this year and attracted attention. Dai Wei participated in the project as a minority shareholder but did not participate in day-to-day operations. About Time Coffee specializes in cold extract, pearl coffee, taro coffee and other products, with a unit price range of $3 to $7, which is $1 cheaper than the average price of Starbucks, but faces fierce competition and high costs in the US coffee market.

According to the interface news reporter learned from multiple independent sources, the current operation of About Time Coffee has been in trouble, the capital chain encountered bottlenecks, the whole project is close to the brink of shutdown. A person close to the project told About Time Coffee that it had begun to close stores in New York. Another person close to Dai Wei confirmed that the expansion plan of the entire About Time Coffee chain has completely stopped, the operation of the original store has also stalled, maintaining a simpler operation, and members of the project are watching.

An online search of About Time Coffee stores found that two core stores in the New York area had been closed for the last two months, and the flagship about time store on Fifth Avenue had been closed for months, according to popular reviews on the review site.

CTOnews.com noted that About Time Coffee is Dai Wei's second start-up since his comeback in the United States, starting a start-up for mobile power leasing in Seattle. Dai Wei's previous project, ofo ofo, is still heavily in debt, the user deposit is difficult to refund, and Dai Wei himself has been listed by the court as the executor of bad faith.