Rivian's ALSO E-Bike Valued at $1B Before Any Sales
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- ALSO, Rivian's e-bike spinoff, was attributed a $1 billion valuation before delivering a single bike to customers.
- ALSO announced a $200M funding round, making it an exception in a tighter micromobility investment climate where capital is harder to come by.
- The $4,500 e-bike includes ride-by-wire and swappable subframes, but critics note its core performance (range, speed) may match $1,000 competitors.
- Key "smart" features including GPS tracking, tamper alerts, and remote disabling require a Connect+ subscription at $15/month or $120/year.
- VanMoof and Cake both generated strong buzz with premium, tech-forward e-bikes backed by venture funding before going bankrupt.
- The e-bike market has cooled from its pandemic boom, with inventory gluts, discounting, and increased competition pressuring new premium entrants.
Why it matters: ALSO must justify a $1B valuation when its $4,500 e-bike offers similar range and speed to models costing a fraction as much, and when headline features like GPS tracking are locked behind a $15/month subscription — a tough proposition in a cooled market where VanMoof and Cake already failed with similar high-tech, premium plays.
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