Riide


Website: ride.com
Twitter: @RiideBikes
Facebook: Riide
Founders: Jeff Stefanis and Amber Wason 

Overview

Riide is an electric bicycle company based out of the Union Market District. All bicycle parts are manufactured in different countries, but the design and assembly happen in Washington, D.C. With Riide bikes, users can ride up to 20 miles per hour without pedaling to increase speed. Each bike has no gears, weighs 35 pounds, and the battery, which takes about 2 hours to charge, will last about 25 miles. [2] A regenerative braking system recharges the battery whenever riders apply the brakes. [4]

History

Headquartered in Washington, D.C., Riide was founded in October of 2012 by Amber Wason and Jeff Stefanis. Jeff saw electric bikes for the first time on a business trip in China. When he returned to the DC metro area, he started to explore ebikes as a solution to avoid traffic. Along the way, he met Amber, with a background in urban transportation (formerly working in carsharing). Together, they fell in love with the potential of ebikes to transform the way we get around. They started exploring the US market and found that no current player was designing a light weight, affordable or aesthetically-pleasing bike. So, Jeff and Amber decided to see if they could build one themselves. The duo raised their initial funding from family and friends, and then received a DC Innovation Grant. As of 2015, they are conducting their seed round.

Kickstarter Success

Riide launched on Kickstarter in January 2014 and hit their sales goal of $50,000 within the first 8 hours. [1] Riide went on to sell 63 bikes, more ebikes than any other campaign in Kickstarter history. The company also designed a limited Kenneth Cole edition with retro-reflective paint. [2] This early market traction catapulted Riide into production.


References

  1. Eric Hal Schwartz "Optoro Raises $50M in New Funding Round" InTheCapital December 10, 2014

  2. Lalita Clozel "This electric bike is for young urbanites: Riide" Technical.ly November 17, 2014

  3. Vicky Hallett "Riide plans to make D.C. a hub for electric bikes, so we gave one a spin" Washington Post August 15, 2015

  4. J.D. Harrison "D.C. electric bike start-up picking up speed" Washington Post August 14, 2014

  5. Molly Greensberg "Riide Smashes $50K Kickstarter Goal in Less Than 24 Hours" DCInno January 7, 2014

  6. Lori Lundin "D.C. startup focuses on hybrid electric bikes — and it's quite a Riide" Washington Business Journal August 5, 2015