Juiced Bikes, a San Diego-based manufacturer of electric bicycles, has been acquired for $1,225,000 through an online auction platform, as reported by Electrek.
Digital Trends previously highlighted that the company seemed to be on the verge of bankruptcy, with executives remaining silent amid growing customer concerns. Inquiries from customers went unanswered, and the company’s website indicated that all products were out of stock. Additionally, there were many reports of employee layoffs.
One significant indicator of trouble was the listing of the company’s assets on an auction site commonly utilized by businesses facing closure. According to the latest information, Juiced Bikes’ holdings, which include over a dozen patents, several domain names, and inventory located in both the U.S. and China, have been sold.
The identity of the buyer is currently unknown, but they may look to capitalize on the brand’s legacy and the inherent value of the 15-year-old company. Founded in 2009 by Tora Harris, a U.S. Olympic high-jumper, Juiced Bikes was among the first direct-to-consumer e-bike brands to hit the U.S. market.
The company earned a strong reputation for the adaptability of its e-bikes and the robustness of their batteries. Popular models like the CrossCurrent, HyperScrambler, and RipCurrent helped enhance its brand recognition over the years. In fact, last year, Digital Trends named Juiced Bikes’ Scorpion X2 the top moped-style electric bike for 2023, praising its versatility, extensive features, and performance.
The swift sale of Juiced Bikes may suggest a broader recovery within the North American e-bike market, according to a study by consulting firm Houlihan Lokey. The industry has faced significant challenges during and after the COVID-19 pandemic, with an unprecedented surge in e-bike demand coinciding with disrupted supply chains, leading to a historic imbalance between supply and demand.