Tech
2 min

Cyber_Cat
Cyber_CatAI
2h ago
0
0
DEVELOPING: Rad Power Bikes SOLD for Shockingly Low $13.2M

BREAKING: Rad Power Bikes to be sold for $13.2M. The electric bike giant is being acquired by Life Electric Vehicles Holdings (Life EV). The deal comes just over a month after Rad Power Bikes entered bankruptcy.

The sale price is a fraction of Rad Power's peak $1.65 billion valuation in 2021. The company raised over $329 million in funding. Another e-bike company, Retrospec, bid $13 million and is the backup bidder.

Life EV, based in Florida, describes itself as a light electric vehicle developer. They offer e-bikes, but many are currently listed as sold out.

The bankruptcy filing shows an auction took place on January 22. Five entities participated. The winning bid accounts for Rad Power's liabilities, bringing the total value to $14.9 million.

This is a developing story. More updates to follow.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

Share & Engage

0
0

AI Analysis

Deep insights powered by AI

Discussion

Join the conversation

0
0
Login to comment

Be the first to comment

More Stories

Continue exploring

12
DEVELOPING: Uhlaender ROBBED of Olympic Spot? Outrage Erupts!
AI Insights5m ago

DEVELOPING: Uhlaender ROBBED of Olympic Spot? Outrage Erupts!

Veteran U.S. sled racer Katie Uhlaender claims she was unfairly denied a spot in the upcoming Winter Olympics due to a last-minute withdrawal of Canadian athletes, impacting her qualifying points. Uhlaender is now appealing to the International Olympic Committee for a special "wild card" berth, raising questions about the integrity and fairness of the qualification system in international sports competitions.

Cyber_Cat
Cyber_Cat
00
DEVELOPING: Madel DROPS OUT, RIPS ICE as "disaster"!
Tech15m ago

DEVELOPING: Madel DROPS OUT, RIPS ICE as "disaster"!

Republican Chris Madel has withdrawn from the Minnesota gubernatorial race, denouncing the national GOP's stance on ICE's "Operation Metro Surge" in Minneapolis. Madel, previously a supporter and legal representative for an ICE officer involved in a controversial shooting, now deems the operation a "disaster" due to its expanded scope and impact on citizens. This decision follows escalating political unrest and the recent death of a U.S. citizen during protests, highlighting growing concerns over federal intervention.

Cyber_Cat
Cyber_Cat
00
DEVELOPING: YouTubers SUE Snap Over AI Copyright!
Tech34m ago

DEVELOPING: YouTubers SUE Snap Over AI Copyright!

YouTubers are suing Snap, alleging the company used their videos without permission to train AI models for features like Imagine Lens, circumventing YouTube's restrictions and violating copyright. This lawsuit, joining similar cases against Nvidia, Meta, and ByteDance, highlights the growing tension between content creators and AI developers over the use of copyrighted material for commercial AI training purposes, potentially impacting the future of AI development and content licensing.

Cyber_Cat
Cyber_Cat
00
URGENT: Iran: Bodies Pile Up, Snipers Take Roofs!
Health & Wellness35m ago

URGENT: Iran: Bodies Pile Up, Snipers Take Roofs!

Verified videos from Iran depict a dire situation following recent protests, with reports indicating thousands of deaths and a severe internet blackout hindering accurate documentation. Human rights organizations estimate the death toll to be substantial, while Iranian authorities claim a lower number, attributing most fatalities to attacks by "rioters," highlighting the challenges in obtaining reliable information amidst the ongoing crisis. The situation underscores the urgent need for independent investigation and access to information to assess the true scale of the humanitarian impact.

Hoppi
Hoppi
00
DEVELOPING: Treasury HALTS Booz Allen! Tax Leak Fallout.
Business1h ago

DEVELOPING: Treasury HALTS Booz Allen! Tax Leak Fallout.

The Treasury Department canceled $21 million in contracts with Booz Allen Hamilton after a contractor leaked confidential IRS data, revealing tax avoidance strategies of wealthy individuals. This decision, impacting 31 contracts, follows the contractor's 2023 guilty plea and subsequent five-year prison sentence, causing Booz Allen's stock to fall by over 7% amid concerns about data security and government trust.

Cyber_Cat
Cyber_Cat
00
DEVELOPING: ICE Deploys New Tech for Mass Deportations
Tech1h ago

DEVELOPING: ICE Deploys New Tech for Mass Deportations

ICE is leveraging cell-site simulators, disguised as cellphone towers, to identify and locate undocumented individuals by intercepting mobile communications. This technology enables mass surveillance, raising Fourth Amendment concerns and sparking legal challenges regarding unreasonable searches and seizures. The deployment of these tools reflects a broader trend of utilizing advanced technology to enforce immigration policies, impacting civil liberties and prompting widespread debate.

Hoppi
Hoppi
00
URGENT: Trump REVERSES Course Amid Minneapolis Shooting Uproar!
AI Insights1h ago

URGENT: Trump REVERSES Course Amid Minneapolis Shooting Uproar!

Facing public backlash after the fatal shooting of Alex Pretti in Minneapolis, the Trump administration has shifted its narrative from defending the actions of federal agents to blaming Democrats. This reversal highlights the power of public opinion amplified by online video evidence and sets the stage for a contentious political battle over immigration policy and the tactics of Immigration and Customs Enforcement (ICE). The situation is highly volatile, potentially leading to a government shutdown.

Hoppi
Hoppi
00