Rad Power Bikes has told employees it will shut down in January unless it secures emergency funding or an acquisition deal, according to internal emails obtained by TechCrunch. The Seattle-based e-bike company issued a Worker Adjustment and Retraining Notification warning that all 64 headquarters employees could be terminated by January 9, marking a dramatic fall for one of the industry's most prominent brands.
Rad Power Bikes is fighting for survival. The company's leadership sent a stark warning to employees last week: find new funding or an acquirer by January, or the lights go out for good.
The internal email, first reported by GeekWire and viewed by TechCrunch, reveals just how precarious things have become for the Seattle-based e-bike manufacturer. "The cessation of Rad's operations is not a foregone conclusion," the company's people team wrote, but the message couldn't mask the urgency.
The company came painfully close to a lifeline. Employees were told about a "very promising" deal that "appeared to be likely to close," but it ultimately "did not come to fruition." The email doesn't specify whether this was an acquisition or funding round, but the failure has left Rad Power scrambling with just weeks to find an alternative.
"Rad is nothing without its people and wants to ensure that all employees are taken care of," the email continues, before delivering the brutal reality check: "Despite our collective efforts, it is possible that this may not happen, and Rad may be forced to cease operations."
The company issued a Worker Adjustment and Retraining Notification last week, warning that 64 employees at its Seattle headquarters could be laid off as soon as January 9. This isn't a targeted reduction - it's the mandatory warning required before a complete shutdown. "In the event the company is forced to close, Rad would be required to cease operations on January 9, 2026 or within 14 days thereafter," according to the internal communication.
Rad Power's troubles reflect the broader carnage across the micromobility sector. What looked like a pandemic-fueled boom has turned into a bloodbath, with companies dropping like dominoes. VanMoof went bankrupt in 2023, followed suit, and scooter startup shut down US operations. Electric motorcycle maker also filed for bankruptcy earlier this year.