Entrepreneurs sell electric bike company in seven-figure deal
Entrepreneurs Crystal Drury and Linas T P are seeking their next venture following a seven-figure buyout of their electric bike and motorbike business, WAU Bikes.
Established in 2018 to tap into the growing electric transport sector, the duo expanded the e-commerce brand, relocating from Nottingham to Birmingham.
The recent buyout was fueled by the success of the Cyber bike, dubbed “the future of electric dirt bikes,” which raised over £250,000 on Indiegogo within 24 hours.
The business, along with its designs and property, was acquired by a private investor from Switzerland for an undisclosed seven-figure amount.
Linas T P said: “We’re genuinely very proud of what we managed to achieve with WAU Bikes, taking it from a concept through to a growing, innovative business that has revolutionised the electronic bike industry. It’s been an extremely fast-paced and challenging journey, but a thoroughly enjoyable one at that.
“We’ve had an opportunity to take stock and recharge, and now it’s time for us to move on to the next exciting chapter and find new projects to invest our energies into.”
Drury said: “Our in-depth experience with WAU Bikes has provided us with a lot of incredible opportunities ahead in helping other businesses successfully scale their digital advertising too, and we are incredibly pleased with how our e-commerce business and brand was able to grow from such humble beginnings.
“The excitement and energy around start-ups is what gives Linas and I our motivation to succeed, and we’re very keen to bring our expertise to all upcoming opportunities now ahead of us.”
