Posts Tagged ‘Kitzuma’
BikeExchange Scraps Kitzuma Ready-to-Ride Delivery Service
North Carolina, US Online bike retailer BikeExchange (BEX) has announced it is scrapping the ready-to-ride bicycle delivery service by its Kitzuma subsidiary in the US, which it had earmarked to be replicated in its existing markets. During BikeExchange’s half-yearly financial report to shareholders last week, the company declared it would not be resuming Kitzuma’s ready-to-ride…
Decision Looming on Kitzuma Future
Melbourne, Victoria Online retailer BikeExchange has foreshadowed it will soon make an announcement on Kitzuma, the US bicycle delivery service it purchased in December 2022 in the hope their synergies would deliver rapid growth for both organisations. However, BikeExchange (BEX) executive have stated Kitzuma has been “burning a lot of cash” at a time when…
US Court Upholds Fraud Claims Against BikeExchange Subsidiary
North Carolina, US A US court has upheld claims of fraud, misappropriation of trade secrets and common-law unfair competition against BikeExchange’s bike delivery service, Kitzuma. The US General Court of Justice – Superior Court Division refused submissions by Kitzuma and two of its founders to have the claims dismissed. The hearing on 30th November was…
BikeExchange CEO Resigns Amid Multiple Challenges
Sydney, NSW BikeExchange co-founder Sam Salter has temporarily stepped into the company’s CEO role, following the abrupt resignation of Mark Watkin from the position. The Melbourne-based company last week issued a statement announcing Mark was stepping down, effective immediately, but would remain with the company in the short term to ensure a smooth handover. “As…
BikeExchange Eyes Latin America as Next Focus
Melbourne, Victoria Melbourne-based company BikeExchange has revealed plans to expand its operations in Latin America, outlining the strategy while unveiling a quarterly business update that shows healthy growth for the company in general. During an online presentation for investors and media late last month, BikeExchange Global CEO Mark Watkin said the company would acquire the…
BikeExchange Purchase Set to Deliver Massive Growth for Kitzuma
North Carolina, US BikeExchange Limited’s recent purchase of US-based ready-to-ride bike delivery and logistics business Kitzuma is set to bring fast and substantial growth for both organisations, according to executives from the two parties. Melbourne-headquartered BikeExchange is listed on the Australian Stock Exchange under the code BEX. The US$3.375 million ($A4.75 million) purchase, announced on December…