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--- transportation:vanmoof [2023/07/15 21:07] – timb
+++ transportation:vanmoof [2025/06/21 01:31] (current) – [Bankruptcy] timb
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 https://github.com/grossartig/vanmoof-encryption-key-exporter
+===== Bankruptcy =====
+== 'Most Funded e-Bike Company In the World' Pauses eBike Sales, Sparking Rumors of Bankruptcy ==
+Posted by BeauHD on Tuesday July 11, 2023 05:45PM
+In late 2021, VanMoof claimed to be "the most funded e-bike company in the world" after raising a total of $182 million in the two years prior -- a figure that would later surpass $200 million. Now, according to multiple sources spoken to by TechCrunch, the Dutch e-bike company's strategy and momentum "appear to have steered dangerously off course." From the report:
+<blockquote>
+Our sources tell us that VanMoof is working on securing a bridge round that will help it stay afloat. Sources also claim that senior staff, including the CEO and a co-founder, as well as the president (who is also an investor) have left executive roles in the business. The company has refused to provide any on-the-record comment on its status until later this week. But the facts are plain: The company has, as of June 29 and by its own admission, stopped taking orders. VanMoof also filed paperwork, revealed in January, of its need to raise money to stave off bankruptcy.
+</blockquote>
+https://slashdot.org/story/23/07/11/2232244/most-funded-e-bike-company-in-the-world-pauses-ebike-sales-sparking-rumors-of-bankruptcy
+== Van-oof! E-bike startup VanMoof, unable to pay bills, files for payment deferment in Holland ==
+Ingrid Lunden and Mike Butcher - 11 July 2023
+//UPDATE: VanMoof has confirmed its application for a suspension of payment and the temporary shutdown of its physical stores. The startup said it would provide more updates shortly.//
+E-bike startup VanMoof has applied to a local court for an official suspension of payment provision after running out of money, the company has confirmed to TechCrunch.
+Is VanMoof about to go “poof”? According to a report in the Dutch publication NRC, VanMoof is not officially bankrupt with this move: This is a particular scheme in the country that is designed to help a company try to avoid that, and give a temporary protection from creditors.
+“The court has also ordered a cooling down period (‘afkoelingsperiode’) of two months,” Thijs Plug, global PR lead, told TechCrunch. “Together with the management of VanMoof the administrators are currently assessing the situation in order to find a solution so that VanMoof can continue its activities.”
+https://techcrunch.com/2023/07/12/report-vanmoof-has-filed-for-bankruptcy-protection-in-holland/
+== VanMoof Explores Sale Under Court Protection Because It Can't Pay Bills ==
+Posted by msmash on Wednesday July 12, 2023 01:02PM
+swinferno shares a report:
+<blockquote>
+VanMoof -- the Amsterdam-based e-bike maker that once bragged about being the "most funded e-bike company in the world" -- has turned to the Dutch courts for legal protection in order to give the company time to pay its bills. The company is exploring all possible routes out of its debt, including a possible sale, according to a source familiar with the matter. All options are on the table as the company looks for a path to survival. The company is also temporarily closing its brand stores. Amid rumors of trouble, angry customers descended on VanMoof's flagship Amsterdam store and service center (and former global HQ) on Wednesday to claim their bikes that had been brought in for service weeks ago.
+</blockquote>
+https://slashdot.org/story/23/07/12/1931209/vanmoof-explores-sale-under-court-protection-because-it-cant-pay-bills
+== VanMoof ‘temporarily’ stops selling e-bikes in shock move, stoking rumors ==
+Micah Toll - Jul 10 2023 - 12:58 pm PT
+VanMoof, one of the most recognizable electric bike brands in Europe, surprised the industry by pausing all orders for its e-bikes and accessories on the popular brand’s website.
+The move comes just two months after VanMoof launched its newest generation of electric bikes described as “ingeniously simple.”
+Visitors to VanMoof’s website will find a pop-up explaining that the company has paused orders to catch up with current demand:
+<blockquote>
+We have temporarily paused sales to catch up on the production and delivery of existing orders. Rest assured – this has no effect on servicing.
+</blockquote>
+https://electrek.co/2023/07/10/vanmoof-temporarily-stops-selling-e-bikes/
+== VanMoof ebike mess highlights a risk with all pricey smart hardware ==
+Ben Lovejoy - Jul 14 2023 - 5:30 am PT
+Anyone with a VanMoof ebike is likely concerned after the Dutch company confirmed that it is in financial trouble.
+One of those concerns is that an app is required to use many of the smart features of its bikes – and that app relies on communication with VanMoof servers. If the company goes under, and the servers go offline, that could leave ebike owners unable to even unlock their bikes …
+https://9to5mac.com/2023/07/14/vanmoof-ebike-mess/
+== If VanMoof eBikes Locks You Out of Your Own Bike, a Rival Company's App Could Help ==
+Posted by EditorDavid on Saturday July 15, 2023 06:34PM
+VanMoof ebikes is currently "exploring all possible routes out of its debt" after rumors of a pending bankruptcy. But the blog 9to5Mac highlights another concern.
+"If the company goes under, and the servers go offline, that could leave ebike owners unable to even unlock their bikes."
+<blockquote>
+While unlocking is activated by Bluetooth when your phone comes into range of the bike, it relies on a rolling key code — and that function in turn relies on access to a VanMoof server. If the company goes bust, then no server, no key code generation, no unlock.
+</blockquote>
+https://news.slashdot.org/story/23/07/15/233244/if-vanmoof-ebikes-locks-you-out-of-your-own-bike-a-rival-companys-app-could-help
+== Owners of troubled VanMoof e-bikes get their software keys from rival company ==
+Belgian firm Cowboy gives VanMoof owners basic access after one-day hackathon.
+Kevin Purdy - 7/17/2023, 11:30 AM
+VanMoof e-bikes have a look, and price tag, from the near future. They're also a bit endangered these days, as their Netherlands-based maker has run out of money and asked for temporary protection from creditors. Sensing this, a Belgian e-bike company jumped in to provide an app that should help VanMoof owners keep riding, even if the parent company stalls out.
+VanMoof has had administrators appointed to it by a Dutch court, protecting it from creditors for at least a two-month "cooling down period" while it explores options, according to a company spokesperson and media reports. After devoted customers began to notice outages and halts to order-taking last week, the company closed its retail stores in New York, Tokyo, Berlin, and other locations. A company spokesperson told Forbes last week that the company would "work hard to continue our services" and would contact customers about pending deliveries or repairs.
+Many, if not most, bike owners can get by just fine if their bike's maker disappears, at least past their warranty period. VanMoof bikes, however, offload many of their configuration functions to a smartphone app and are much easier to unlock with a phone than manually. Models like the X3 Ars tested in 2020 have automatic shifting, which all but demands regular tweaking with a phone to adapt their behavior to different rides and preferences.
+https://arstechnica.com/gadgets/2023/07/rival-e-bike-maker-helps-vanmoof-owners-grab-bike-keys-while-company-struggles/
+== VanMoof, the e-bike startup, officially declared bankrupt in The Netherlands ==
+Ingrid Lunden - 17 July 2023
+Another grim stage for VanMoof, the e-bike startup backed by venture capitalists to the tune of hundreds of millions of dollars. After making a last-hour effort to stave off bankruptcy last week, the court of Amsterdam has taken the step of officially declaring bankruptcy for the company’s Dutch legal entities, VanMoof Global Holding B.V., VanMoof B.V. and VanMoof Global Support B.V. The court has now appointed two trustees to explore an asset sale to a third party to keep VanMoof running.
+Legal entities outside of The Netherlands are part of the group, but they are not involved in these proceedings. From what we understand, stores in San Francisco, Seattle, New York City and Tokyo remain open, but the rest of its stores are closed. The company has some further detail about how to unlock a bike you already own (to make it usable without the app, should that cease to work), the state of repairs (halted), the state of refunds (paused for now, unclear how, when and if they will be carried out) and information for suppliers in a FAQ about its current situation here.
+https://techcrunch.com/2023/07/18/vanmoof-goes-vanpoof-bankruptcy/
+== VanMoof, the Most Funded E-bike Company in the World, Declared Bankrupt ==
+Posted by msmash on Tuesday July 18, 2023 07:00AM
+VanMoof -- the independent e-bike maker that once bragged about being the "most funded e-bike company in the world" -- has been declared bankrupt in the Netherlands. The company had entered into a so-called "suspension of payment" proceeding with court-assigned administrators just last week. From a report:
+<blockquote>
+According to a statement released by VanMoof, the court of Amsterdam withdrew the suspension of payment proceeding of the Dutch legal entities VanMoof Global Holding BV, VanMoof BV and VanMoof Global Support BV, and declared each entity bankrupt. VanMoof legal entities outside the Netherlands are not in insolvency proceedings. Two administrators have been appointed as trustees and are continuing to assess the situation at VanMoof and the possibility of a restart. That includes exploring an asset sale to a third party so that VanMoof could continue operations.
+</blockquote>
+https://slashdot.org/story/23/07/18/099236/vanmoof-the-most-funded-e-bike-company-in-the-world-declared-bankrupt
+== VanMoof e-bikes has declared bankruptcy ==
+The company is putting its Dutch operations up for sale.
+Sarah Fielding - July 18, 2023 5:40 AM
+E-bike company VanMoof has declared bankruptcy for all its Dutch entities and aims to find a buyer in the "next few weeks." The announcement comes alongside the court of Amsterdam's withdrawal of suspension of payment proceedings and appointment of two trustees to oversee a possible third-party sale of the assets to ideally keep VanMoof functioning. The news came through a mass email to Dutch employees that was subsequently shared on Reddit.
+Bankruptcy proceedings have come to VanMoof less than two years after it claimed to be the "most funded e-bike company in the world" while announcing a $128 million investment. Yet, trouble has been brewing for some time, with it allegedly costing more money to sell and service its bikes than people were paying for them. Dutch financial outlet FD reported an €11.9 million ($13.4 million) gross margin loss for VanMoof in 2021, with €8 million ($9 million) spent on repairs and replacements. The company's international entities, in places like the United States and Taiwan, aren't part of the bankruptcy proceedings.
+https://www.engadget.com/vanmoof-e-bikes-has-declared-bankruptcy-094041635.html
+== From VanMoof to VanPoof! How did the e-bike pioneer go bankrupt, even as the market boomed? ==
+Mike Butcher - 17 July 2023
+Troubled e-bike maker VanMoof — which had raised a total of $189.1 million from the likes of Balderton Capital and Felix Capital, among other investors — has now officially gone bankrupt in the Netherlands after barely a week in an administrative process. As TechCrunch previously reported, the company was in a “suspension of payment” process, with court-assigned administrators, after we broke the news that it had suspended bike sales.
+VanMoof owners are now in a quandary, as the VanMoof e-bikes require highly customized parts as well as a unique digital key connected to VanMoof’s servers to function fully, although they are able to be operated in a basic fashion without these. Somewhat improbably, competitor Cowboy even came up with an app to allow VanMoof owners to retain the digital keys to their bikes.
+https://techcrunch.com/2023/07/18/from-vanmoof-to-vanpoof-how-did-the-e-bike-pioneer-go-bankrupt-even-as-the-market-boomed/
+== Amsterdam police ask VanMoof customers to stop accusing the company of theft ==
+Wednesday, 19 July 2023 - 13:05
+The Amsterdam police have received many accusations of criminality and questions from VanMoof customers who believe their bicycles were stolen by the the company, the Amsterdam police said on social media this week. The police could not provide exact numbers, a spokesperson said. The police are calling on customers of the bankrupt e-bike company to stop contacting them.
+"The customers who have bought a bicycle here or have given their VanMoof bicycle for repair, ask whether they can report the theft to the police or have already reported the theft online." However, the police said that declarations, reports and questions about the bankrupt company will not be processed. "A bankruptcy is a civil matter and not a criminal matter. No matter how irritating, the police can not do anything for customers for this reason."
+An Amsterdam court declared the Dutch company bankrupt on Tuesday. The VanMoof administrators previously appointed by the court will investigate the possibilities of a restart as trustees. Last week, the bicycle company was forced to close its shops and request protection from creditors. In Amsterdam and elsewhere, customers found themselves in front of a closed door when visiting the company's stores, even when sometimes their bicycle remained inside.
+https://nltimes.nl/2023/07/19/amsterdam-police-ask-vanmoof-customers-stop-accusing-company-theft
+== Van poof! Dutch e-bike maker VanMoof goes bankrupt, leaving riders stranded ==
+August 23, 20235:14 AM ET - Rob Schmitz
+AMSTERDAM — More than two-thirds of the population of Amsterdam commutes to work on two wheels, and some, like office worker Brian Rueterkemp, prefer to do it in style.
+"I think one of the things I really appreciate about my bike is having a boost button," he says about his VanMoof, an electric bike that, over the years, has become a hipster accessory both in Europe and in the United States.
+But the brand, considered by many bicyclists the Tesla of e-bikes, has gone bankrupt; its cofounders are in talks with outside groups to revive the failed company.
+The Dutch startup's bikes have become famous for their sleek design and ease of use through a smartphone app. But VanMoof's downfall has left customers like Rueterkemp stranded.
+https://www.npr.org/2023/08/23/1195201692/vanmoof-ebikes-bankrupt-netherlands
+==== Rebirth ====
+== Dutch E-Bike Brand VanMoof Bought Out of Bankruptcy by Scooter Maker ==
+Posted by msmash on Thursday August 31, 2023 09:40AM
+VanMoof, the Dutch e-bike maker that gained a zealous following but declared bankruptcy last month, has been acquired by Lavoie, an upscale electric scooter company, the firms announced on Thursday. From a report:
+<blockquote>
+Riders of the expensive and technologically advanced VanMoof bikes were left in limbo by the company's bankruptcy, because the machines are built from proprietary parts that only the company made and many of the bikes' functions are linked to a smartphone app that runs on the company's servers. Despite the buzz around the brand, VanMoof had run into financial problems that led to a production backlog and monthslong waits for sales and repairs.
+</blockquote>
+https://slashdot.org/story/23/08/31/1621218/dutch-e-bike-brand-vanmoof-bought-out-of-bankruptcy-by-scooter-maker
+== VanMoof makes a move: Lavoie acquires the e-bike startup out of bankruptcy for ‘tens of millions’ of euros ==
+Ingrid Lunden - 31 August 2023
+VanMoof, the flashy e-bike startup that skidded into bankruptcy this summer, has gotten back on its bike, so to speak. Today it was announced that Lavoie, which makes electric scooters, has acquired the business out of administration. The company plans to invest in the brand and relaunch the business, it said. That will include providing services to VanMoof’s existing customers, from the looks of it, and from what using some of the tech VanMoof had built for its bikes that it never launched due to going bust.
+Sources close to the deal tell me Lavoie paid a price in the “tens of millions” of dollars. That represents a huge drop on VanMoof’s estimated valuation from its last round in 2021: Dealroom puts that figure at between $512 million and $768 million.
+https://techcrunch.com/2023/08/31/vanmoof-makes-a-move-lavoie-acquires-the-e-bike-startup-out-of-bankruptcy-and-plans-to-relaunch-it/
+== VanMoof is back with a new custom e-bike and rebooted repair network ==
+‘I don’t think there’s a reason for VanMoof to exist if we’re going to use off-the-shelf parts like everyone else.’
+Rebecca Bellan - 8:04 AM PDT June 20, 2025
+Dutch e-bike startup VanMoof is back two years after bankruptcy with its first model designed under new leadership. And despite past criticism that VanMoof’s over-reliance on custom parts led to the company’s downfall, the S6 sticks to the brand’s signature bespoke design.
+Today, VanMoof is betting that higher-quality custom parts, alongside a more robust servicing network, will allow it to stay true to its design-forward, tech-heavy core, while avoiding the repair and servicing pitfalls that came out of scaling a specialized product too quickly.
+“I don’t think there’s a reason for VanMoof to exist if we’re going to use off-the-shelf parts like everyone else,” co-CEO Elliot Wertheimer told TechCrunch backstage at Micromobility Europe in Brussels this week. “We’re here to push design, to have a bike that, if you’ve never ridden an e-bike in your life, you get on it and it’s intuitive. Easy, like an iPhone.”
+VanMoof previously raised more than $200 million in venture capital and gained a cult following for its premium, minimalist-designed e-bikes equipped with integrated lights, batteries, and motors.
+https://techcrunch.com/2025/06/20/vanmoof-is-back-with-a-new-custom-e-bike-and-rebooted-repair-network/