Rad Power Bikes
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Rad Power Bikes was a direct-to-consumer electric bike company founded by Mike Radenbaugh and Ty Collins in Seattle. It sold sub-$2,000 e-bikes aimed at casual riders — city bikes, cargo bikes and off-road models — and branded itself as North America's largest e-bike seller after demand surged nearly 300% during the COVID-19 pandemic.
02 / Rad Power Bikes FAILURE REASONS
Failure reasons
Rad Power Bikes was caught by the post-pandemic demand collapse. After expanding aggressively during the boom — opening retail stores and hiring — demand cooled in 2022 and the company endured more than seven rounds of layoffs. Tariffs raised costs, a CPSC warning over battery fires in older models eroded customer trust, personal-injury lawsuits piled up, and a last-ditch buyout fell through. Revenue fell from $129.8 million in 2023 to $63.3 million by late 2025, and the company filed for Chapter 11 with nearly $73 million in liabilities against $32 million in assets.
03 / EVENT HISTORY
Events in the structured record
- Bankruptcy asset sale
Rad Power Bikes' assets were sold through an auction conducted as part of the e-bike company's bankruptcy process.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Rad Power Bikes raised $329 million in total funding, including a $154 million round in October 2021, and was once valued at $1.65 billion.
- 02
Gross revenue fell from $129.8 million in 2023 to $103.8 million in 2024 and $63.3 million toward the end of 2025.
- 03
In November 2025 the company warned Washington state of a potential closure and layoffs of 64 employees.
- 04
It filed for Chapter 11 bankruptcy protection in December 2025, reporting nearly $73 million in liabilities against $32 million in assets.
- 05
In 2026, Life EV acquired Rad's assets for $13.2 million and planned to revive the brand.