Juiced Bikes sold at auction for $1.2 million, report says
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Nick Godt Published October 19, 2024 |
Juiced Bikes, the San Diego-based maker of e-bikes, has been sold on an auction website for $1,225,000, according to a report from Electrek.Digital Trends recently reported how the company was showing signs of being on the brink of bankruptcy. The company and its executives had remained silent, while customer inquiries went unanswered and its website showed all products were out of stock. In addition, there were numerous reports of layoffs at the company.Yet, the most convincing sign was that the company’s assets appeared as listed for sale on an auction website used by companies that go out of business.Now, it appears that Juiced Bikes’ assets, including a dozen patents, multiple URLs, and the company’s inventory in both the U.S. and China, have been sold at auction, according to the report. It is likely that the buyer, who remains unknown, can capitalize on the brand and the overall value of the 15-year old company. Founded in 2009 by Tora Harris, a U.S. high-jump Olympian, Juiced Bikes was one of the early pioneers of the direct-to-consumer e-bike brands in the U.S. market.
The company had quickly built a reputation for the versatility of its e-bikes and the durability of their batteries. Over the years, the popularity of models such as the CrossCurrent, HyperScrambler, and RipCurrent only bolstered the brand’s status.Last year, Digital Trends named the Juiced Bikes Scorpion X2 as the best moped-style e-bike for 2023, citing its versatility, rich feature set, and performance.Juiced Bikes’ getting sold quickly might be a sign of what consulting firm Houlihan Lokey says is a recovery in the North American e-bike market.
The industry has had a roller-coaster ride during and after the COVID-19 pandemic: A huge spike in demand for e-bikes had combined with disrupted supply chains to create a supply/demand mismatch of “historic proportions,” Houlihan Lokey said.
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