Super cool that Dominos is going to be using Rad's for delivery!
https://bit.ly/3eW9WWd (https://bit.ly/3eW9WWd)
Here is an interview I enjoyed of founder and CEO Mike Radenbaugh.
https://www.forbes.com/sites/nargessbanks/2019/10/17/radpowerbikes-radrunner-electric-bike/?fbclid=IwAR3QshD1k5eYKxvzImtlY3QdvINfNoCOphFTya_zIyB_c5tdPRz5rEBGBJs#e290c49ff315 (https://www.forbes.com/sites/nargessbanks/2019/10/17/radpowerbikes-radrunner-electric-bike/?fbclid=IwAR3QshD1k5eYKxvzImtlY3QdvINfNoCOphFTya_zIyB_c5tdPRz5rEBGBJs#e290c49ff315)
It's pretty fun to watch Rad Power Bikes' continued success. Today it was announced that they raised $25 million. According to the press release they plan to use the funds to broaden their market, accelerate growth and continue to deliver the exceptional experience today's customers expect. It's probably easy for some to put them in the same bucket as some of these electric scooter rental companies even though it is a completely different business model and product, but it's pretty clear that Rad took a different approach to building their business. One of the investors noted, "Rad Power Bikes is the market leader in electric bikes, bootstrapping its way to a profitable business." (Emphasis mine) One other tidbit I found interesting is they claim 100,000 owners, which in my opinion just shows how much room there is to grow. Either way this is great news for us customers.
https://www.prnewswire.com/news-releases/rad-power-bikes-closes-25-million-in-funding-to-grow-direct-to-consumer-electric-bike-business-300999573.html (https://www.prnewswire.com/news-releases/rad-power-bikes-closes-25-million-in-funding-to-grow-direct-to-consumer-electric-bike-business-300999573.html)
It is hard to believe Mike Radenbaugh has been at this for 13 years! Great interview about how the company came to be:
https://www.bizjournals.com/seattle/news/2020/02/17/mike-radenbaugh-rad-power-bikes-innovator-of-year.html (https://www.bizjournals.com/seattle/news/2020/02/17/mike-radenbaugh-rad-power-bikes-innovator-of-year.html)
Great interview in Bloomberg with Mike Radenbaugh: https://www.bloomberg.com/news/videos/2020-06-12/the-pandemic-has-proven-bikes-are-essential-says-e-bike-founder-video (https://www.bloomberg.com/news/videos/2020-06-12/the-pandemic-has-proven-bikes-are-essential-says-e-bike-founder-video)
Forgot to share this one earlier in the month. Great write-up in the NY Times: https://www.nytimes.com/2020/08/06/business/electric-ebikes-rad-power-bikes.html
Nice feature in Bloomberg: https://www.bloomberg.com/news/features/2020-10-27/seattle-startup-rad-is-leading-america-s-pandemic-e-bike-revolution
I always find it interesting when people say that these are low-quality ebikes. Obviously, the bike shop owner in this article has his own horse in the race. 4,000 miles on our 18' RadWagon and very little maintenance. It's not like these are on par with department store bikes.