Spinning Up

It’s no secret that bike-sharing is in a warming trend right now. Increasing traffic congestion, concerns about climate change, and an unstable petroleum market have driven the public interest in using bikes for transportation to an all time high.
Spin is a San Francisco based startup that is rolling with the surge. At the end of May, the company had raised over $8M in startup capital. By July, the company had wheels on the streets with a fleet of 500 bikes operating on a station-less network that allows riders to drop off their bike in any “responsible location.”
Spin shows no signs of putting on the brakes either. The startup surpassed 5000 rides in week one, and added another 500 bikes to their collection earlier this month. Spin is upgrading their current armada of bicycles, expanding their network in South San Francisco and Dallas, has partnered with the city of Austin to bring about the first city-sanctioned station-less bike-share system, and is working to launch on the East Coast.
What makes Spin such a successful venture? First and foremost: affordability and ease of use. Spin charges just $1 for 30 minutes of riding, and the free accompanying smartphone app allows riders to scan a QR code, and ride on. Spin offers payment flexibility in the form of an unlimited membership that allows riders to ride as much as they want for a flat monthly fee, discounts for riders who sign up using their company email, and an access card for users that need or want to pay with cash.
Additionally, Spin offers discounts — on both the ride and the food — for riders patronizing local businesses, and holds special events like the Spin Scavengers Hunt, which offers Spin riders a chance to win prizes of significant value ($500 Amazon gift card? Sign me up!).
Spin is prepared for the long haul, and already collects targeted data about how Spin riders use their bikes — such as ride duration, and how many rides per month riders are taking — in an effort to create a continuously evolving service and improve the bike-sharing experience.
Spin’s success stems from their core values. The company started by offering city residents an alternative to driving that is healthier for both their bodies, and the planet, and strives to remain true to ethical business by diligently worked with city officials and businesses to ensure that their venture is legal and accepted, without disrupting local communities.
With an ethical and customer-centric business model, and a solid frame to build upon, one thing is for sure: Spin is geared up to ride at the forefront of the American bike-sharing revolution.
