Melburnians have well and truly exceeded expectations with bike-sharing company oBike.

But not in a good way.

The company has revealed on 3AW “about 40 per cent” of all helmets had gone missing – stolen or lost – since the bikes hit the streets in June.

There are 1000 bikes spread across 17 suburbs.

“It is quite high,” head of marketing, Chethan Rangaswamy, confessed on 3AW Mornings.

“It caught us by surprise.

“We were expecting 10 to 20 per cent.”

Bikes have also been found in the bottom of the Yarra River, as well as scattered in parkland.

Neil Mitchell tried to find out more about the company’s plan on Tuesday.

Click PLAY below to hear the full interview