Revel’s Last Stand: Shutting Down Its Shared Moped Business in NYC and SF
In a company-wide email sent by CEO and co-founder Frank Reig on Friday, electric mobility startup Revel announced that it is officially shutting down its shared moped business in New York City and San Francisco. The move marks the end of an era for the Brooklyn-based company, which got its start as a small Bushwick storefront with 68 electric mopeds in 2018.
The Rise and Fall of Revel’s Moped Business
By 2021, Revel had expanded its moped sharing service to multiple cities across the US, including Washington, D.C., Miami, and San Francisco. At its peak, the company had over 3,000 e-mopeds in New York City alone. However, as Revel’s other business units grew, demand for its shared micromobility offering began to dip.
In his memo to staff, Reig described how "the service has been strained and ridership isn’t what it used to be." According to a spokesperson for the company, ridership dropped by about 30% in both San Francisco and New York year-over-year from peak summer rides, making the service unsustainable.
The Last Days of Revel’s Moped Business
Revel will send the decommissioned mopeds to recycling facilities in New York and the Bay Area over the next two weeks. The last day of service for its shared moped business will be November 18. As a result of the shutdown, about 67 staffers in moped operations will be laid off, but they will all be eligible for severance benefits.
Revel’s Future Focus: Electric Ride-Hail and EV Charging Businesses
Revel’s decision to shut down its shared moped business marks a significant shift in focus for the company. According to Reig, Revel will now concentrate on its electric ride-hail and EV charging businesses. The company has already made significant strides in this area, launching its third so-called ‘Superhub’ in Queens earlier this week.
A Revel spokesperson told TechCrunch that the company also expects to break ground on a Bay Area charging station soon. This move is part of Revel’s broader strategy to become a leading player in the electric mobility space.
The End of an Era for Micromobility?
The shutdown of Revel’s shared moped business marks the end of an era for micromobility companies that once dominated the streets of New York City and other major cities. While some companies, such as Bird and Lime, have continued to expand their services, others have struggled to maintain momentum.
As the electric mobility landscape continues to evolve, it remains to be seen whether Revel’s decision to pivot its focus will ultimately prove successful. However, one thing is certain: the company’s commitment to sustainability and innovation has earned it a reputation as a leader in the industry.
Timeline of Revel’s Growth and Expansion
- 2018: Revel launches with 68 electric mopeds in Brooklyn.
- 2021: Revel expands its moped sharing service to multiple cities across the US, including Washington, D.C., Miami, and San Francisco.
- 2022: Revel launches its first Superhub in Brooklyn and starts an all-Tesla, all-employee ride-hailing service.
- November 2022: Revel pulls out of Washington, D.C. and Miami due to declining ridership.
Conclusion
Revel’s decision to shut down its shared moped business marks a significant shift in the company’s focus. As the electric mobility landscape continues to evolve, it will be interesting to see how Revel’s pivot ultimately proves successful. One thing is certain: the company’s commitment to sustainability and innovation has earned it a reputation as a leader in the industry.
About the Author
Rebecca Bellan covers transportation for TechCrunch. She’s interested in all things micromobility, EVs, AVs, smart cities, AI, sustainability and more. Previously, she covered social media for Forbes.com, and her work has appeared in Bloomberg CityLab, The Atlantic, The Verge, and other publications.
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