Prolific Seattle E-Bike Company May Shut Down in January Without New Funding

"For the past several months, executive leadership has explored different ways to continue Rad's business, including strategic partnerships with other companies that could acquire the company or provide funding so the company could keep moving forward. Until recently, one such option seemed very promising and appeared to be likely to close. Unfortunately, that did not come to fruition. Leadership is still working to find other viable options to keep the Rad brand alive. The collective mantra has been and will continue to be, 'Save Rad.'"

"Rad Power Bikes (RAD), a Seattle-based e-bike brand that has grown into one of the best-selling e-bike brands in North America, is facing shutdown as it struggles to secure funding or a buyer. As stated in a letter sent out to employees, Rad Power Bikes is facing "significant financial challenges." This has the brand staring down the barrel of a shutdown going into the new year."

Rad Power Bikes is a Seattle-based e-bike company that became one of North America's best-selling e-bike brands after a COVID-era boom. The company raised $25 million in 2020 and $300 million in 2021, reaching a $1.65 billion valuation. Financial hardships beginning in 2022, combined with tariffs and a difficult economic landscape, triggered rounds of layoffs and the suspension of sales in the UK and EU. Leadership explored strategic partnerships and potential acquisitions, but a promising deal recently failed to close. If no funding or buyer is found, the company may lay off all employees by January 9, 2026.

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