Everything Mike Radenbaugh said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Radenbaugh: E-Bike Supply Chains Will Never Exist in the United States
“The supply chains for electric bikes, they don't exist in America. They're not going to exist.”
2018 Section 301 tariffs eliminated Rad Power Bikes' entire profit margin
“In mid 2018, right, we were growing up really fast. And we had a lot of bikes on order compared to our balance sheet. And all of a sudden tariffs hit us really hard. E-bikes were part of the section three Oh one tariffs. So like I said, we had all these bikes …”
Radenbaugh: Rad Power Bikes holds at least 25% of North American market
“You know, we estimate we have about 25% or more of the North American market.”
E-Bikes Inherently Drive Multi-Unit Sales Because People Prefer Riding Together
“You know, you don't want to buy one Ski-Doo. You want to buy two so you can go with your friend. You see the same thing with e-bikes, which is, it's a lot more fun to go ride with a pal.”
Radenbaugh: Unresolved Co-Founder Tension Inevitably Creeps into Team Performance
“And so one of the big learnings I've kind of taken away from the last awesome five years with Ty has been like, acknowledge the tension and address it head on. Like, don't let it build up pressure because it, you might think it's not creeping out into the rest…”
Radenbaugh: Rad Power Bikes saw sales spike 297% in April 2020
“So April of 2020, we've done 297% more bike sales than we did April 2019.”
Radenbaugh: Pandemic-driven surge in e-bike adoption will not fade for years
“But this is a switch that was, is flipped on and it's not turning off for years to come.”
In 2014, Most E-Bikes Were Limited by European Regulations
“Most of the e-bikes that were out there in the market were built for European standards, actually, right around 2014, and so they were 250 watts of power, they didn't have throttles, they had really skinny tires”
Radenbaugh: 750W is US federal legal limit for unlicensed e-bike classification
“750 watts is the federal legal limit for e-bikes to be treated like a regular bike, so you can still ride them.
Without having to get a license for it, right?
Exactly.
You don't need a license, you don't need registration, you don't need a driver, yeah.”
Rad Power Bikes raised $320,000 in pre-orders in 30 days on Indiegogo
“Within 30 days, right, we had done, I think over 300 people had signed up, so we did 320,000 dollars in pre-orders.”
Radenbaugh: Rad Power Bikes Made $1.5M in First-Year Sales
“We had in the first year, so in, in, in, in, in, in, in, we did a you know, a million and a half in sales. So we did 300,000 on crowdfunding and a 1.5 for the year.”
Rad Power Bikes faced chronic summer inventory stockouts from cash constraints
“The second reason, every single summer we were out of stock and we, for long periods of time, weeks on end. So we were cash constrained, like we needed to be able to order more inventory near the tail end of each year to be prepared for the upcoming summer.”
Radenbaugh: Rad Power Bikes generated nearly $100M in 2019 sales
“We were nearly a hundred million in sales last year.”
Radenbaugh: Rad Power Bikes grew over 100% annually for five years
“We're a business that has grown a hundred more than a hundred percent per year for the last five years.”
Radenbaugh: First Rad Power Bikes customer paid with a teepee
“The first customer I had actually ended up trading the bike for a teepee, like an actual, like, teepee that I lived in for a summer on my parents' property.”
How I Built This 2