Juiced bikes were auctioned for $1.2 million

According to a report by Electrek, Juiced Bikes, the San Diego-based e-bike manufacturer, was sold on an auction website for $1,225,000.

Digital Trends recently reported that the company was showing signs that it was on the verge of bankruptcy. The company and its executives had remained silent while customer inquiries went unanswered and its website said all products were sold out. There have also been numerous reports of layoffs within the company.

But the most compelling sign was that the company’s assets were listed for sale on an auction website used by companies going out of business.

Now it appears that Juiced Bikes’ assets, including a dozen patents, multiple URLs and the company’s inventory in both the US and China, have been auctioned off, according to the report.

It is likely that the unknown buyer can benefit from the brand and 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 first pioneers of direct-to-consumer e-bike brands in the U.S. market.

The company quickly gained a reputation for the versatility of its e-bikes and the longevity of its batteries. Over the years, the popularity of models such as CrossCurrent, HyperScrambler and RipCurrent have only strengthened the brand’s status.

Last year Digital Trends named the Juiced Bikes Scorpion

The rapid sales of Juiced Bikes could be a sign that a recovery is on the horizon in the North American e-bike market, according to consulting firm Houlihan Lokey.

The industry has experienced a rollercoaster ride during and after the COVID-19 pandemic: a huge increase in demand for e-bikes, along with disrupted supply chains, has led to a mismatch between supply and demand of “historic proportions,” said Houlihan Lokey.