A company “Spin” (team of Disqus, Lyft, Uber, and Y Combinator alumni) whose mission is to bring station less bike sharing program to the US is finally launching its first city-sanctioned dockless bike sharing in Bay Area of South San Francisco. The company is putting 125 bikes in the first run and planning to grow this rate to 500 within two weeks. The cycles can be found near about 22 locations including transit stations and commercial areas. These bikes don’t require a docking station.
Co-founder and President of Spin, Euwyn Poon said, “Spin is all about working closely with local governments to provide our innovative model of transportation. We would like to thank South San Francisco officials for the great working relationship, and we are excited to offer South City residents our convenient, affordable and eco-friendly transportation option.” With controversies, bike shares have proven famous in SF Bay Area.
One more thing is that Spin has to not bother with is cash. As per the TechCrunch report, “Spin raised $8 million in Series A funding in May, and has already deployed fleets in Dallas and Seattle, with a small pilot also operating in Mountain View.”
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