An “unprecedented win for bicycling”: Bikestation gets $500,000 angel investment

BikeStation Long Beach-8.jpg

The BikeStation in Long Beach,
California.
(Photos © J. Maus)

A reader sent over a story from Marketwire that I thought was a very good sign for biking in America.

Tech Coast Angels (TCA), “the largest angel investor group in the United States”, has decided to invest $500,000 in Bikestation. Bikestation — which is now a registered trademark of Mobis Transportation Alternatives, Inc. — plans, designs, and operates “bike transit centers”. The facilities provide secure parking and other amenities to urban bike commuters (I visited a Bikestation in Long Beach back in 2007).

Story continues below

advertisement

In a statement about the investment, a spokesperson for TCA had some very encouraging words about Bikestation:

“This company is so hot and their solution is so vital to the new green economy, they just couldn’t answer demand for Bikestations fast enough without investors.”

BikeStation Long Beach-1-2.jpg

The TCA spokesperson also said that Bikestation is profitable and that they’ve raised their revenue forecasts for 2009, “since they’d already met 70 percent of their annual goal in the first quarter.”

About the services Bikestation provides, TCA said, “It changes people’s minds about what is possible and practical. It is a true paradigm shift.” The company called it “a triple bottom line investment benefiting people, producing profit and saving the planet.”

“This is a massive and unprecedented win for bicycling.”
— Andrea White-Kjoss, CEO of Bikestation/Mobis Transportation Alternatives

I ran into the CEO of Bikestation/Mobis, Andrea White-Kjoss (formerly Andrea White, whom you might recall from a story I did in 2007), at the recent National Bike Summit. She said she had some big developments to tell me about. Unfortunately I was never able to track her down, but I did get in touch with her via email yesterday.

Andrea White of BikeStation

Andrea White-Kjoss in 2007.

White-Kjoss characterized this investment as nothing short of “a massive and unprecedented win for bicycling”. Not only has an investment like this never been made for a bike commuter facility White-Kjoss said, but the fact that Mobis was able to close a round of funding in this bleak economic climate, “says a lot about what investors are looking for these days.”

With the $500,000, White-Kjoss plans to roll out new projects and improve their existing services. She also pointed out that the nonprofit Bikestation (which owns 10% of Mobis) will use part of the funds to become a grant-maker and continue its bicycling education programs.

This news shows that the private sector is willing to bet that bikes will play a much larger role in America’s future. Hopefully, cities, states, and the federal government will make a similar bet.

(Portland has flirted with a Bikestation in the past on more than one occasion, but so far nothing has materialized.)

Jonathan Maus (Publisher/Editor)

Jonathan Maus (Publisher/Editor)

Founder of BikePortland (in 2005). Father of three. North Portlander. Basketball lover. Car owner and driver. If you have questions or feedback about this site or my work, feel free to contact me at @jonathan_maus on Twitter, via email at maus.jonathan@gmail.com, or phone/text at 503-706-8804. Also, if you read and appreciate this site, please become a supporter.

Thanks for reading.

BikePortland has served this community with independent community journalism since 2005. We rely on subscriptions from readers like you to survive. Your financial support is vital in keeping this valuable resource alive and well.

Please subscribe today to strengthen and expand our work.

Subscribe
Notify of
guest

4 Comments
oldest
newest most voted
Inline Feedbacks
View all comments
metal cowboy
15 years ago

This is some of the most encouraging news for cycling. I love the part about “you can’t just tell people to bike.” You can, but only a certain portion of the population will do it. If you make it easier for others who want to but need some ameneties, watch the mode share grow. I hope bikestation comes to Portland if there are businesses that get how it will help their employee’s health and their economic bottom line.
That angels are investing is something of a watershed moment.

Scott Mizee
Scott Mizee
15 years ago

YAY Angels! YAY Bikestation!

peejay
peejay
15 years ago

Maybe we can get a bikestation if they design in a kitchy neon sign to place on the roof, especially if it clashes with the architecture of the building. Oh, wait, some other group did that…

revphil
15 years ago

what does it cost to go to the bathroom at Bikestation?