Electrical mobility startup Revel is formally shutting down its shared moped enterprise in New York Metropolis and San Francisco, in response to a company-wide e-mail that CEO and co-founder Frank Reig despatched Friday. TechCrunch has seen the e-mail.
San Francisco and New York had been Revel’s final two moped sharing markets. The corporate will now focus solely on its electrical ride-hail and EV charging companies. Earlier this week, Revel launched its third so-called “Superhub” in Queens after unveiling a second one in Brooklyn in April. A Revel spokesperson informed TechCrunch the corporate additionally expects to interrupt floor on a Bay Space charging station quickly.
Shuttering mopeds represents the tip of an period for Revel — the Brooklyn-based firm bought its begin as a small Bushwick storefront with 68 electrical mopeds in 2018. By 2021, Revel had greater than 3,000 e-mopeds in New York Metropolis and one other 3,000 throughout Washington, D.C., Miami and San Francisco.
That very same 12 months, Revel launched its first Superhub in Brooklyn, began an all-Tesla, all-employee ride-hailing service, and opened (and quietly shut down) an e-bike subscription service. Now the ride-hail service is 500 EVs robust — made up of Tesla Mannequin Ys and 3s and Kia Niros — and is out there throughout New York Metropolis and components of northern New Jersey, together with to and from La Guardia, JFK and Newark airports.
As Revel’s different enterprise items grew, demand for its shared micromobility providing started to dip. In his memo to employees, Reig described how “the service has been strained and ridership isn’t what it was once.”
Robert Acquainted, a spokesperson for the corporate, informed TechCrunch that ridership dipped about 30% in each San Francisco and New York year-over-year from peak summer time rides, making the service unsustainable.
Revel already pulled out of Washington, D.C. and Miami in November 2022. As we speak, the corporate solely has 3,000 mopeds energetic throughout each SF and NYC markets.
The final day of service will likely be November 18. Revel will ship the decommissioned mopeds to recycling services in New York and the Bay Space over the subsequent two weeks.
About 67 staffers in moped operations will likely be laid off on account of the shutdown, and so they’ll all be eligible for severance advantages, in response to Acquainted. Revel will host an all-hands assembly on Tuesday to reply any questions from workers.