e bikes

Scooter startup Bird is still losing money hand over fist, though the losses are slowing slightly and revenue is picking up as pandemic restrictions ease.

With plans to go public via a SPAC, the Santa Monica company released its second-quarter results for 2021 today and net losses in the quarter dropped to $43.7 million compared to $50 million the same time last year. But revenue soared 477% from $60 million during the same quarter last year , thanks in no small part to riders returning from lockdowns.

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Retrospec, a Los Angeles-based ecommerce brand that sells outdoor recreation and fitness gear, is among the latest companies to enter the e-bike market. It will launch its first line on April 21st.

E-bikes have been on the rise lately, spurred in part by the pandemic and a desire for sustainable, outdoor transit.

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In January 2020, just before the pandemic hit, Irvine-based electric bike manufacturer Super73 had just launched its newest bike models — the S2, R, and RX — and business was surging.

Then the pandemic hit.

"There was a day in March when [Gov. Gavin Newsom] declared a state of emergency, everything shut down, and we saw our sales drop quite a bit. We were like, 'uhhh, buckle up, what's coming?'" said co-founder and Chief Marketing Officer Michael Cannavo.

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