After Friday's news that Citi Bike needs tens of million dollars to stay afloat, a few things happened. First, the operating company, Alta Bike Share, responded that it needs $14 million (to be precise) and is seeking to raise rates and gather funds from private investors. Meanwhile, the Daily News adds insult to injury by uncovering documents showing that Alta has violated the terms of its contract by failing to check its bicycles and repair broken docking stations; lack of monies is the ostensible reason. Some are demand better service. In light of the serious stuff, this guy who made a detachable motor for Citi Bikes seems sort of comical. [WSJ/NYDN; previously]
Filed under:
Loading comments...