"In just about a week, iRobot, Luminar, and Rad Power Bikes all filed for bankruptcy. They're very different companies - selling Roombas, lidar, and e-bikes, respectively - but as Sean O'Kane, Rebecca Bellan, and I discussed on the episode of the Equity podcast, they faced some similar challenges, including tariff pressures, major deals that fell through, and a failure to establish themselves beyond the products that first made them successful."
"Sean: Rad Power is big for an e-bike company, but small, I think, in most people's minds, since that's still a bit of a niche. They were founded a long time ago and became popular even before the pandemic, and really were thought of as an industry leader, as far as quality of the bikes that they're making, pretty good branding and marketing and trying to connect with with customers"
iRobot, Luminar, and Rad Power Bikes each filed for bankruptcy within a week. The companies sell Roombas, lidar systems, and e-bikes and confronted shared pressures such as tariffs, collapsed major deals, and difficulties expanding beyond the products that initially defined them. Rad Power rode a pandemic-era micromobility surge but experienced steep revenue declines from roughly $123 million in 2023 to about $63 million during the bankruptcy year. Rad Power had strong branding and a diverse lineup but failed to secure a broader market foothold amid waning post-pandemic demand. Similar patterns appeared at the other firms.
Read at TechCrunch
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