BikeBiz Bicycle and cycling retail news
Buzzbike, a trailblazer in bike subscription services in the UK and a noted innovator in the micromobility sector, has announced that it will be closing its operations at the end of November.
Founded in 2016 by former Apple marketing executive Tom Hares and KPMG management consultant Andrew Nunn, Buzzbike was hailed by The Guardian as “The Netflix of Bikes.”
The company offered members an all-inclusive, flexible subscription service for premium e-bikes and traditional bikes, along with on-demand maintenance and theft protection via its app.
As well as being the first business of its kind in the UK, Buzzbike also disrupted the government-backed Cycle to Work Scheme by being the first to enable employers to offer the same tax incentives on a cancellable, anytime subscription basis.
Buzzbike counted household brands including Spotify, ASOS, Disney, and Sony among its clients.
Despite achieving record revenues in 2024 and serving more than 20,000 subscribers since its inception, the company faced significant challenges.
Rising costs, the ongoing cost-of-living crisis, and notably, the recent high-profile collapse of its largest shareholder and supplier, Signa Sports United (parent company of Wiggle), forced Buzzbike to make the decision to cease operations.
In addition to Signa Sports United, Buzzbike was backed by prominent investors, including the Adidas family, venture capital firms, and family offices.
Originally launched as a brand-funded model at the Design Museum’s Cycle Revolution exhibition, Buzzbike established award-winning partnerships with brands such as PayPal, HSBC, and others before transitioning to a subscription model in 2020.
Tom Hares, CEO and Co-Founder of Buzzbike, remarked, “It is with a heavy heart that Andy and I share the news of our business winding down. We are immensely proud of the role we have played in transforming the UK micromobility landscape, the innovative technology we have developed, the bikes and e-bikes we have designed, and the incredible partnerships we have forged.
“Most importantly the 20,000 members who have rediscovered their love for cycling through our service. We still believe that cycling can address many of the challenges facing our cities, but unfortunately, the difficult macroeconomic conditions and the collapse of our largest shareholder have made it impossible to continue.
“We would like to extend our heartfelt thanks to our amazing team, suppliers, shareholders, and members for their contributions throughout this remarkable journey.”
