The news of the bankruptcy of American e-bike giant Superpedestrian attracted widespread attention in the industry on December 31, 2023. After the bankruptcy is declared, all of Superpedrian’s assets will be liquidated, including nearly 20,000 e-bikes and related equipment, which is expected to be auctioned in January this year.
According to media outlets, two “global online auctions” have already appeared on the Silicon Valley disposal website, including Superpedestrian e-bikes in Seattle, Los Angeles and New York City. The first auction will begin on January 23 and will last for three days, and the equipment will be packaged for sale; Subsequently, the second auction will be held from January 29 to January 31.
Superpedestrian was founded in 2012 by Travis VanderZanden, a former executive at Lyft and Uber. In 2020, the company acquired Zagster, a Boston-based company, to enter the shared scooter business. Since its inception, Superpedestrian has raised $125 million in less than two years through eight funding rounds and expanded to cities around the world. However, the operation of shared mobility requires a lot of capital to maintain, and due to increased market competition, Superpedestrian is in financial difficulties in 2023, and its operating conditions gradually deteriorate, which ultimately makes the company unable to continue operations.
In November last year, the company began looking for new financing and negotiated a merger, but it failed. Overwhelmed by the end of December, Superpedestrian eventually declared bankruptcy, and on December 15 announced that the company would close its U.S. operations by the end of the year to consider selling its European assets.
Shortly after Superpedestrian announced the closure of its U.S. operations, ride-sharing giant Bird also declared bankruptcy, while U.S.-based shared electric scooter brand Micromobility was delisted by Nasdaq due to its low share price. Another competitor, European share-sharing electric scooter brand Tier Mobility, made its third layoff this year in November.
With the acceleration of urbanization and the enhancement of environmental awareness, more and more people are looking for convenient and environmentally friendly travel methods, and it is in this context that shared travel comes into being. It not only solves the problem of short-distance travel, but also meets people’s needs for low-carbon and environmental protection. However, as an emerging model, the sharing economy is in the exploration stage of model definition. Although the sharing economy has its unique advantages, its business model is still evolving and adjusting, and we also hope that with the advancement of technology and the gradual maturity of the market, the business model of the sharing economy can be further improved and developed.
Post time: Jan-09-2024
