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Spin (company)

From Wikipedia - Reading time: 11 min
Spin
FormerlySkinny Labs, Inc.
IndustryBicycle-sharing and scooter-sharing
FoundedOctober 2016; 8 years ago (2016-10)
Founders
HeadquartersSan Francisco, California, US
Key people
Philip Reinckens (CEO)
Parent
Websitespin.pm

Spin is an electric bicycle-sharing and electric scooter-sharing company. It is based in San Francisco and was founded as a start-up in 2017, launching as a dockless bicycle-sharing system controlled by a mobile app for reservations.

History

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Spin was founded in 2016 as Skinny Labs, Inc. and announced in January 2017, hoping to bring Chinese-style dock-less bicycle sharing to the United States.[1] Spin raised $8 million in Series A venture capital financing led by Grishin Robotics in May, during preparation for a wider rollout in other cities.[2] Spin launched in Seattle, Washington, on July 17, 2017, becoming the city's first dock-less bicycle-sharing system under new regulations from the city government.[3] Spin debuted with 500 bicycles in Seattle, and exceeded 5,000 rides during its first week in operation, surpassing the city's former bicycle-sharing system, Pronto Cycle Share.[4] In late July, Spin announced plans to expand to South San Francisco, California, as part of a larger national rollout.[5] The New York City Department of Transportation, however, ordered the closure of operations in Rockaway, Queens.[6]

In February 2018, Spin rolled out scooter sharing, starting in San Francisco. The scooters were initially priced at $1 to unlock, plus fifteen cents a minute.[7] On April 12, 2018, San Francisco's Public Works department seized several dozen Spin bikes after pedestrians objected to the bikes blocking sidewalks.[8] The company launched in Austin, Texas, during South by Southwest in March 2017. The service was suspended by Spin within a day of launch, due to a dispute with the city government over permits and regulations.[9][10]

With the expiration of Seattle's bikeshare pilot program permit, Spin decided not to seek a new permit with the city and ceased its operations there in September 2018.[11] On November 7, 2018, the Ford Motor Company announced that it had acquired Spin and aims to expand its service to more cities. The Wall Street Journal reported that Spin was valued at $80 to 90 million at the time of the purchase.[12] Spin announced in 2019 that in August that year it would deploy 15,000 scooters in Portland, Los Angeles, Denver, Washington, DC, Kansas City, Memphis, and Minneapolis.[13] In September 2019, San Francisco Municipal Transportation Agency announced that it has picked 4 operators, including Spin, to each bring 1,000 scooters to San Francisco effective in mid-October, thus doubling the current number allowed.[14]

In August 2020, Spin announced it would begin to offer its services in Germany, starting with Cologne.[15][16] In late August 2020, the company continued international expansion by launching in the United Kingdom, starting with Milton Keynes followed by Essex. In early 2021, the company entered three additional countries: Canada,[17] Spain,[18] and Portugal.[19] In the meantime, the company also added a new CEO,[20] Ben Bear, to the mix which is only their second since inception.

In August 2021, the company announced its scooters would be integrated into Google Maps. Users will be able to see the nearest scooter, distance to it and how long it would take to reach the vehicle. However, Google Maps users will not have the option to rent the scooter while in the app, being redirected to Spin's own application instead.[21]

In January 2022, Spin announced its closure of all operations across Germany, Spain, France and Portugal as well as select North American markets due to low profitability. Spin remains active in all limited markets where it was selected as a micromobility operator by city officials.[22][23]

On March 2, 2022, it was announced that Berlin-based Tier Mobility [de] had acquired Spin. Spin's UK subsidiary will be transferred into Tier operations but the brand will keep operating in the United States and Canada.[24][25][26]

In September 2023, San Francisco-based competitor Bird acquired Spin from Tier Mobility for $19 million.[27] In December 2023, Bird filed for Chapter 11 bankruptcy. The company has plans to restructure and sell some of its assets to some of its existing lenders.[28]

Equipment and usage

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Spin uses orange-colored, single speed, pedal assist bicycles equipped with onboard GPS units and cellular modems.[29][30] Bicycles are unlocked using a mobile app that scans a QR code on the bicycle.[31] When it operated in Seattle, bicycles had to be parked in designated landscape/furniture zones on sidewalks.[32]

By disassembling abandoned scooters in Seattle, hobbyists found out that they are powered by a Raspberry Pi 4B single board computer.[33]

References

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  1. ^ Kolodny, Lora (January 25, 2017). "Spin wants to bring dock-less bike sharing to the US". TechCrunch. Retrieved July 31, 2017.
  2. ^ Kolodny, Lora (May 25, 2017). "Spin raises $8 million as bike-sharing battle heats up in the US". TechCrunch. Retrieved July 31, 2017.
  3. ^ Lloyd, Sarah Anne (July 17, 2017). "Spin is the first dockless bike-share program to launch in Seattle". Curbed Seattle. Retrieved July 31, 2017.
  4. ^ Fucoloro, Tom (July 25, 2017). "Spin smashes Pronto ridership in week one, announces improved bikes". Seattle Bike Blog. Retrieved July 31, 2017.
  5. ^ Shieber, Jonathan (July 25, 2017). "Spin brings its pick-up-anywhere bike sharing to South San Francisco". TechCrunch. Retrieved July 31, 2017.
  6. ^ Healey, Mark (August 17, 2017). "City 'Spins' Rockaway Bike Share Plan". Wave of Long Island. Retrieved September 29, 2019.
  7. ^ Dickey, Megan Rose (2018-02-08). "Bike-sharing startup Spin is getting into scooter-sharing". TechCrunch. Retrieved 2018-06-01.
  8. ^ Cabanatuan, Michael (April 13, 2018). "SF scooter problem: City impounds dozens of the two-wheelers". San Francisco Chronicle. Retrieved September 29, 2019.
  9. ^ Small, Andrew (March 12, 2017). "Austin (Briefly) Gets a No-Frills Private Bike Share". CityLab. Retrieved July 31, 2017.
  10. ^ Theis, Michael (March 14, 2017). "After Austin's crackdown, free-roaming bikeshare program could soon return". Austin Business Journal. Retrieved July 31, 2017.
  11. ^ Lloyd, Sarah Anne (August 16, 2018). "Spin bike share announces departure from Seattle". Curbed Seattle. Retrieved September 29, 2019.
  12. ^ Colias, Mike; Brown, Eliot (November 8, 2018). "Ford Buys Electric-Scooter Startup, Looking to Diversify Beyond Autos". The Wall Street Journal. Retrieved November 8, 2018.
  13. ^ Hawkins, Andrew J. (July 25, 2019). "Ford's scooter company launches aggressive expansion plan with next-gen scooter". The Verge. Retrieved September 29, 2019.
  14. ^ Kafton, Christien (September 26, 2019). "San Francisco, get ready for thousands of more e-scooters starting next month". KTVU. Retrieved September 29, 2019.
  15. ^ Staff Writer (2020-08-26). "Ford-Owned Spin Launches in Milton Keynes". Auto Futures. Retrieved 2020-08-26.
  16. ^ Porter, Jon (2020-02-27). "Ford's Spin electric scooters are coming to Europe". The Verge. Retrieved 2020-02-27.
  17. ^ "Spin is Coming to Canada, Marking Its Fourth International Launch | Canada | English | Ford Media Center".
  18. ^ Asenjo, Alba. "Ford enters Spain with its shared electric scooters one month before Carmena's licenses expire". Business Insider. Retrieved 2021-10-11.
  19. ^ "Ford-owned Spin Expands its Micromobility Services to Portugal | Ford Media Center".
  20. ^ "Ford-owned Spin shakes up scooter business with new CEO, e-bikes and city strategy". TechCrunch. Retrieved 2021-10-11.
  21. ^ Hawkins, Andrew J. (2021-08-16). "Spin's electric scooters are coming to Google Maps". The Verge. Retrieved 2021-08-16.
  22. ^ "A Message from our CEO, Ben Bear".
  23. ^ Moon, M. (8 January 2022). "Ford's e-scooter company Spin is leaving markets and laying off staff". Engadget. Retrieved 7 March 2022.
  24. ^ "TIER Mobility Enters North America by Acquiring Micromobility Operator Spin".
  25. ^ "TIER enters North America by acquiring micromobility operator Spin". 2 March 2022.
  26. ^ Bellan, Rebecca (2 March 2022). "Tier Mobility acquires Spin from Ford, marking entry into North America". TechCrunch. Retrieved 7 March 2022.
  27. ^ Kokalitcheva, Kia (19 September 2023). "Scooter consolidation continues with Bird's acquisition of Spin". Axios.
  28. ^ "Bird Electric Scooter Company Files for Bankruptcy After 2021 SPAC". The Wall Street Journal. December 20, 2023. Retrieved December 20, 2023.
  29. ^ "Three More Things". Spin. July 26, 2017. Retrieved July 31, 2017.
  30. ^ Lloyd, Sarah Anne (July 28, 2017). "Seattle's dockless bike shares: a guide to the bikes taking over the city". Curbed Seattle. Retrieved July 31, 2017.
  31. ^ Machkovech, Sam (July 23, 2017). "Dockless bike sharing lands in Seattle—and leads us down unsavory alleyways". Ars Technica. Retrieved July 31, 2017.
  32. ^ Gutman, David (July 17, 2017). "Bike shares wheeling back into Seattle, but they're unlike Pronto in 2 big ways". The Seattle Times. Retrieved July 31, 2017.
  33. ^ Ash Hill (2023-08-06). "Raspberry Pis Found in Abandoned Spin Scooters in Seattle". Tom's Hardware. Retrieved 2023-09-01.
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