This company talked as though they book up nearly every day, probably due to their high ranking on Trip Advisor. I'm going to outline a few pros and cons from my experience:
1) You get a better picture of the layout of Shanghai.
2) The guide (we had Michael) will take you to a few places that you might not discover on a short tour through SH with only a Lonely Planet guide book.
3) For safety, they send two guides with you, one to take up the front and lead and another to take up the rear.
1) Granted, we had a group of 7 which I think is rather large, but the group often got split up. The leader was not much concerned with the people behind him and would just jump on his bike and ride off, many times w/o looking back. The guide at the back rarely stayed at the end and somehow I often ended up at the back of the group separated by a red light and way behind. As the leader was not watching out for stragglers and the caboose was not in his proper place, there were a countless times when I literally had to just ride on alone hoping to catch sight of where they'd gone.
2) Although we had two guides only one spoke good English. Often he would give explanations of a place to only the front few people on the tour and not bother to pass on the knowledge to the whole group. When asked to repeat I would get the condensed version of the information.
3) Riding bikes in SH is a stressful experience. Even with the make-shift bikelanes, which are recent additions, you are constantly veering out of the way of people, vehicles, and other bikes/scooters. I was more exhausted by the end of the day from the adrenaline than the heat or exertion.
4) The price is, in my opinion, a bit steep for what it is. We got admission to the Jewish Museum (which was largely self-congratulating for China) and the Jade Buddha Temple (but not for the inner sanctum where the actual jade Buddha statues were) and a bicycle to ride and two guides. These tour guides and the organizer must be pocketing quite a bit of cash for each person who attends, as this leaves about 430RMB/person after the admission fees, big money by Chinese standards.
5) We like to enjoy the journey, not so much the destination. There were SO MANY beautiful photo ops that we missed because the tour leader was just going right on ahead (as mentioned w/o looking back). It was quite a shame that the only photos we really got that day were of the stops.
My suggestion, if you're just super keen on biking in SH, is to hire your own bike for the day, take a look at the stops on their itineraries and map them, and do it yourself. You will save money, acquire the same amount of knowledge (as stated the guide did not ensure that everyone could hear explanations), and have the freedom to stop and take photos wherever you choose.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.