Bike24, an online bicycle store with an important position in the German-speaking market, announced its intention to launch in Frankfurt.
With this, the company hopes to raise 100 million euros from the market. We want to use this money to build infrastructure for further growth in Germany and Europe. Initially, this will include activities in France, Spain and Italy.
The European bicycle market is approximately 22 billion euros. Bicycle 24 The turnover in 2020 is 199 million euros. Sales of electric bicycles doubled that year, and sales of “bio” powered bicycles increased by 80%.
Last year’s profit (EBITDA) was 26.7 million euros. The company serves 700,000 customers. More than 95% of site visits are organic and unpaid. One percent of website traffic comes from performance channels.
photo: Thomas 8047 (cc)