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How Reevo Raised $1.5M and Turned an eBike Sensation – Indiegogo Weblog
The Reevo eBike isn’t for the common bicycle owner. The hubless design places an emphasis on type, making it the right eBike for a discerning rider. Reevo brings conventional bicycle design into the 21st century, and represents an ideal marriage between kind and performance. And with its state-of-the-art safety and security options, the eBike is as handy to make use of and it’s enjoyable to trip.
We sat down with Alec Lim, CEO of Beno Inc. and creator of Reevo, to be taught extra about their crowdfunding marketing campaign and learn how Reevo got here to be.
Do you will have a founding story?
I’ve been a bicycle owner for so long as I can bear in mind. The introduction of electrical bikes has been instrumental in my life as a result of they permit me to journey farther with out getting sweaty. However my mates and I’ve a love-hate relationship with electrical bikes as a result of so lots of them are ugly. As designers ourselves, we knew that we may make an eBike that turns heads.
So in 2016, we based Beno Inc. and got down to create Reevo. We relied on the three S’s to information our design: type, security, and safety.
Model, to provide cyclists a hanging, handsome eBike. Security, to provide riders further safety when driving a motorbike with an electrical motor. Safety, to maximise the bike’s anti-theft options.
We began out constructing the bike only for ourselves, however making solely a handful of eBikes was going to be costly.We requested round and came upon that lots of people shared our views about eBikes: they thought they lacked type, they usually wished them to have extra options.
What are you elevating funds for?
The structure of Reevo is a little bit totally different from conventional bikes. We make these stunning bikes with injection molded frames. They require costly tooling, which we are able to’t fund ourselves. If we noticed sufficient demand via crowdfunding and obtained sufficient backers, we may fund the tooling and begin manufacturing.
Who’re the staff members of your mission? What’s their story?
Reevo has a global staff. Andrew, Kenneth, Andrea and I used to work on the identical firm as colleagues and we turned good mates. Once we determined to make this bike, we joined forces, despite the fact that all of us dwell in numerous nations now and don’t see one another for months at a time. As we constructed totally different elements of the bike, we obtained assist from individuals we already knew. Lots of them are nonetheless engaged on Reevo as a facet hustle.
What’s the philosophy behind Reevo?
Life’s brief. Don’t trip ugly bikes. Higher bike, higher life.
What stunned you most about crowdfunding?
We have been so stunned by the keenness for this mission. We didn’t anticipate to get this many backers or to boost over $1M. We had by no means finished correct business-style market validation; we had simply requested individuals on Fb what they considered our concept. What amazed me is that there are such a lot of individuals on Indiegogo that share the identical battle with conventional eBikes. Nobody needs to trip an unpleasant bicycle. Once we confirmed this product to the backer neighborhood, they actually wished it.
How have backers helped you enhance Reevo?
We’ve been getting a ton of suggestions. We’ve modified some options to accommodate backer response. For instance, we initially put the kickstand on the precise facet of the bike. However everybody mentioned they wished the kickstand on the left. So we adjusted the design.
What’s been your greatest problem?
Making an attempt to satisfy everybody’s request! We wish to make backers comfortable, and it’s been difficult to seek out steadiness. We’ve gotten requests for reflectors, fenders, mounting factors for child trailers, racks for bike panniers — the record goes on. It’s exhausting for us to not fulfill these requests, however we are able to’t do all of it.
Why did you determine to fund on Indiegogo?
Indiegogo has an even bigger neighborhood for biking merchandise than different crowdfunding platforms. Indiegogo additionally supplies higher instruments for advertising and monitoring site visitors from social media, which has made it simpler to transform new backers.
Would you crowdfund once more?
Completely! I’m a individuals individual and I like interacting with all of the backers. Seeing backer enthusiasm and getting backer suggestions — it’s been a lot extra fulfilling than going a conventional funding route.