Here at Fyxation we've always been huge fans of Kickstarter as a way to launch a product or a new company. I actually was introduced to the concept of crowdunding a bunch of years ago when I attended the launch party of Indiegogo at the Sundance Film Festival in Park City. At the time they were targeting their platform as a way for independent film makers to raise the funds needed to make movies and it was a pretty big deal at Sundance that year and even Robert Redford made it out for the launch party.
Anyway, I don't know if Indiegogo got their idea from Kickstarter or vice versa, but both sites now enable entrepeneurs to get immediate consumer feedback and pre-orders to help "kickstart" their new ideas whether it's a movie, a book, a smartwatch or electric bike. Rather than having to go a bank and mortgage your dog or provide them your tax returns dating back to your first lemonade stand, you can easily launch your idea in a smoothly functioning online marketplace that gives you immediate product feedback and revenue.
A while back we were contacted by a guy that was about to launch a new electric bike company on Kickstarter and he was looking to source a few parts from us. People reach out to us all the time with "interesting" ideas and we assumed that we would never hear back from Jeff or his team. Well the other day we heard back from him and his Kickstarter project has been a huge success and so far they've raised almost $100,000 on Kickstarter and they're about half way through with their campaign!
The idea behind their Kickstarter project and company is to make electric bikes that are functional, affordable and look good. Instead of having a huge Jetsons battery pack hanging off the back of the bike,the Riide Electric Bike has an integrated battery pack and controller into the downtube of their aluminum frame so it's tucked away out of site. Also, by using aluminum for their frameset they were able to produce a bike that weighs 40% less than the competition. The bikes will be assembled in the USA and will start shipping in May. We're excited to be a part of this project and wish them the best of luck.
Check out their Kickstarter project here.
Written by: Ben Ginster - Fyxation Google