VBikes notified the city government that the company will not participate in Denton's bike-share pilot program and is removing its bikes from Denton, according to a staff report to the City Council on Friday afternoon.
The council approved an ordinance for the pilot program last month. The ordinance goes into effect Tuesday.
VBikes placed about 60 bikes around the city last summer, renting them through a smartphone application. Other companies have asked the city about the program, including Spin, LimeBike and Ofo. So far, only Spin has stated that it plans to submit an application, city staff said.
Spin has also approached the University of North Texas and Texas Woman's University about placing bikes on campus.