It’s been a big month for Rad Power Bikes.
The Seattle startup made headlines earlier in August for its exclusive partnership with Domino’s. The pizza giant is partnering with Rad and using hundreds of its e-bikes to make deliveries in several U.S. cities.
The custom-built e-bikes can hold up to 12 large pizzas and go up to 20 MPH. Some Seattle-area locations are now making all deliveries via e-bike. The deal is part of Rad’s commercial division that includes customers in industries such as logistics and law enforcement. B2B sales increased 600 percent between 2017 and 2018.
A few weeks later Rad rolled out its newest — and cheapest — product, the $1,299 RadRunner. Described as a “part two-seater moped, part electric cargo bike,” the RadRunner features a single-speed drivetrain with multiple riding modes and a load capacity of 300 pounds. It’s the company’s eighth model and is available Sept. 10. Wired called it a “comfy, utility-minded e-bike” while The Verge coined it the “SUV of e-bikes.”
Rad has taken advantage of the direct-to-consumer model to shorten its supply chain, bypass traditional bike shops and create a tight feedback loop with customers to constantly improve its limited line of e-bikes that sell to customers in more than 30 countries for around $1,500.
The company describes itself as the largest ebike brand in North America. Founded in 2007, its business has accelerated as of late, reporting $45 million in revenue last year — a number that is expected to more than double in 2019.
This past March, Rad raised its first outside capital from e-commerce heavy-hitters Darrell Cavens and Mark Vadon.
“I see a business with super passionate customers, a cool product, and awesome entrepreneurs,” Vadon told GeekWire at the time. “That’s what you want to be investing in.”
Founder and CEO Mike Radenbaugh teamed up with childhood friend Ty Collins in 2015 to launch the company’s direct-to-consumer business. The duo took home the Young Entrepreneur of the Year prize in May at the 2019 GeekWire Awards; a few months later Rad ranked No. 63 on Inc. magazine’s annual list of the 5,000 fastest-growing privately held companies in the U.S.
Last week Rad dropped its lawsuit against Phoenix-based competitor Bam Power Bikes, which shut down its site after Rad sued over copyright infringement and false advertising in April.