Update: Atherton Bikes Seeking Around £600,000 in Crowd Funding Investment

Nov 2, 2020
by James Smurthwaite  


Press Release: Atherton Bikes

Atherton Bikes does everything fast. Whether that’s on the race track or designing and building their ground-breaking new bikes. It seems that fund-raising is no different. After just 3 hours on the Crowdcube platform they have already smashed their initial target of £600k 

Rachel Atherton said “First of all a massive thanks to more than 5500 people who pre-registered an interest in our Crowdcube raise. And to more than 900 investors who have already pledged well over £750,000; we are overwhelmed by your support and your desire to be a part of the future .

In this video riders, business brains, designers and engineers talk about what motivated us to take this massive step, why we're approaching bike building in this new way (what’s so great about additive manufacturing), how we plan to develop the business… and how we’re planning to make it a huge success for our investors.”

A bit about Crowdcube

Crowdcube is a leading equity-based investment platform that enables private investors to receive equity (shares) in return for their investment (our
minimum investment starts at around £11).

As we are raising finance at such an early stage of the business, there is huge potential for growth and as the company prospers value is created for all of our shareholders. This private round is only available to followers of mountain-biking and will be available for a limited time (we’re potentially talking hours rather than days) before it’s released to the general public. We are already overfunding but we are still accepting investment.  The exact extent of the overfunding is to be decided once we have had time to take stock. 

Anybody interested in investing should go to www.crowdcube.com/athertonbikes



Photos: Moonhead Media

Atherton Bikes is seeking around £600,000 ($775,000 USD) in further crowdfunding to help launch the next phase of its business.

The British brand will be using Crowdcube to manage the fundraising. Unlike other crowdfunding platforms, Crowdcube doesn't offer rewards, products and merchandise to backers but instead a stake in the company. Atherton Bikes have not yet confirmed what percentage of equity will be released to investors.

Investors can join in the funding round from £11 and Atherton Bikes is projecting sales of 7,500 units in the next five years. The brand states that the investments will allow potential backers to participate in an ‘exploding bike market’ that has a predicted 6.1% Compound Annual Growth Rate (CAGR) up to 2025.

2020 UCI MTB World Cup. Maribor Slovenia. Round 1.
Since launching in January 2019, Atherton Bikes has earned three World Cup wins, six podiums and sold its first fifty production bikes.

Atherton Bikes began life with some Angel Investors, including the Dragon's Den businessman Piers Linney, however some equity was held back as the brand wanted to leave some of the pie for mountain bikers and members of the public too. Dan Brown, CEO, said: “Our initial Angel investment round was so successful that we had to close it early to save enough shares for the mountain bike community, something we were all unanimous on. Now we’re aiming to raise a minimum of £600,000 through crowd-funding.on the Crowd Cube platform. Working with our first customers has given us the opportunity to perfect our processes and build the operational confidence to take the company to the next level."

The crowdfunding will apparently allow Atherton Bikes to bring its additive manufacturing into its own facility with the brand having previously manufactured its prototype frames at Renishaw near Bristol, UK. The investment will expand the brand's capacity, allow it to launch website sales, and "increase the chances for customers to see, touch and feel our bikes and to develop the next models in the range".

Atherton Bikes is hoping to bring manufacturing in house with crowdfunding.

Gee Atherton said “We believe that Atherton Bikes will disrupt the mountain bike industry. Bringing manufacturing back to the UK and establishing our business with a serious focus on sustainability is a huge bonus. We are working with some amazingly clever scientists and engineers from backgrounds in aerospace, Formula1 and NASA and our fundraising is being led by (Ex BBC Dragons’ Den) Piers Linney so your investment will be in very good hands.”

The crowdfunding has not yet begun but anyone interested can pre-register, here. Investments of this nature carry risks to your capital. Please Invest Aware.

Edited for clarity: An earlier version of this article suggested that the 6.1% CAGR figure referred specifically to Atherton Bikes and not the bike market as a whole.We apologise for any confusion.


355 Comments

  • 572 76
 Here is a novel idea. How about, I give you money. You give me a bike. And that is how you fund your business. Crazy I know but think about it.
  • 167 29
 Idk, I'm all for businesses trying new approaches especially if it gets manufacturing to move back locally. If this isn't your cup of tea it's pretty easy to not invest.
  • 70 8
 lol, the first, and most missed lesson of business. Selling.
  • 38 4
 What if the bike frames were themselves the shares in the company? Like Packer's season tickets.
  • 190 38
 This going to crowdfunding really bothers me. Quit asking for handouts and put your own necks on line... go get a loan based on your assets. Remember that mtb cribs video of their headquarters/compound? It looks pretty nice to me, must be worth something!
  • 70 2
 Selling a lot of bikes requires a lot of upfront spending on raw materials, as well as potential warehousing, distribution, and other costs that I don't have the experience to predict. It is a notorious Catch-22 of the bike business that has sent larger bike companies out of business. If the cash-flow from one season's profits is interrupted they might not be able to make the investment in the next season's bikes and then have nothing to sell. Even with working cashflow I have heard that many bike companies have to rely on large seasonal loans to make the deposit on the next bikes while their current inventory is still being sold To sell a lot more bikes they either need to expand slowly to use each bike's profits towards the next bikes or get a big injection of cash to jumpstart the process and take advantage of the brand hype
  • 32 3
 Never seen “crowd investing” actually pay off for anyone that gives the money! They usually rely on investors that don’t do their due diligence and lax regulation. My opinion has always been that most potentially successful companies wouldn’t have trouble going public, getting venture funding, or finding investment from accredited investors
  • 122 45
 They’re building their business how they chooose to. Go build your own or invest elsewhere if you don’t like it.

PB full of loud complaining coal miners.
  • 40 2
 Seems far superior to kickstarter where I might get a 5% discount and a pack of stickers.
  • 30 6
 @Pmars88: But the whole point of additive manufacturing is that its not more expensive to do locally, it isn't tied to specific quantities, and they already have all the infrastructure they need. I don't know why they need to do additional investment, unless they blew all their cash on sending racers to the World Cups. Do they need another laser printer? Why isn't their current one running 24 hours a day cranking out as many bikes as they can to generate cashflow? When compared to other brands their frames aren't even that expensive ($3700 for a fully custom Atherton frame vs $3900 for a yeti sb150, for example). I would expect they could sell plenty enough to keep their manufacturing at full capacity.
  • 54 55
 Gee: "We believe that Atherton Bikes will disrupt the mountain bike industry."
Me: Disrupt the industry with a 4 bar linkage suspension design???
  • 49 52
 "..scientists and engineers from backgrounds in aerospace, Formula1 and NASA.".... Yeah cause the first thing I think of when I think of when I hear those is an efficiently run organization making practical products!

I really like the Atherton's and want the best for them. But their business model is unlikely to succeed. Ditch additive manufacturing start selling horst link aluminum bikes (made in Asia) with good geometry and smart spec choices and they'd have a decent chance of success.
  • 26 1
 @sspiff: Or you could invest that money in the stock market and see a higher return.
  • 30 1
 @hamncheez: My interpretation is that they don't necessarily own the additive equipment they are currently using, and part of this additional investment is securing this equipment for themselves. It doesn't explicitly state this, but it makes sense based on what they are saying.
  • 58 0
 Predicting, but not guaranteeing, a 6.1% rate of return on a Series A fundraising when some preferred shares pay 5% dividends.

Sounds like the sale of equity could occur only when the company becomes highly successful or - let's be realistic - in financial distress, when the value of the equity may not be what you would hope it to be.

Can I sell or transfer my shares?

Atherton Bikes is a private company, which means it doesn’t trade on a stock exchange. This means you can only sell Atherton Bikes shares when a ‘liquidity event’ occurs., that is when the whole or part of the company is sold, it lists on an exchange, or it sells a major asset such as a brand.


It's a bold strategy with a lot of risk for modest upside.
  • 10 0
 @vjunior21: It's not a 4-bar, it's got an additional rocker link where the lower frame pivot normally is.
  • 18 0
 @LeDuke: I wouldn't invest in this expecting rate of return. I like the Athertons and bikes, and I've never been a partial owner of a bike startup before. Just sounds like it would be a fun way to watch a few grand grow or disappear.
  • 7 6
 @kcy4130: well said, a bit blunt but very true, especially the second part.
  • 7 0
 @vjunior21: * 6 bar linkage design....
  • 16 4
 You're missing the point. The operative word here is "investment". Investment into capital, like tooling and methods to increase manufacturing so that making bikes is profitable. Investment into making an efficient production process. One-off models aren't really a sustainable business model.
You should be stoked they want to become a viable business... lugs and tubes are a cool way to be a nimble bike company. They could be in a position to adapt geometry to trends and needs, for example. Something that's not easily possible with complex molds and typical carbon process.
  • 2 0
 @hamncheez: Maybe they can't manufacture enough.

Scalability, economies of scale, etc.
  • 10 3
 @schofell84: Their bikes use additive manufacturing, which should have no scaling issues other than buying more 3D (in this case, laser) printers. I can't imagine anything other than laser printing the ti lugs as the manufacturing bottleneck, and you aren't buying more of those for only $700k. There has to be some other underlying issue they face.
  • 12 1
 @ridesleeprepeat:
I am going to hold out for the 7 bar linkage design.
  • 6 3
 @hamncheez: That's a lot of speculating going on.

Maybe they're casting lugs once they go to larger production runs.

Maybe they need an investment as part of an initial purchase of a new piece of equipment.

Maybe they're hiring more wizards.
  • 15 0
 @hamncheez: Alignment jigs, bonding jigs, Carbon tube processing/cutting tools, You need to process, clean and prep 2D printed parts. There's more than, it seems, you think that goes into developing frames.
It all takes tools, space to house the tools, space to do the work, and an infrastructure to hire, train and keep quality employees.
You're oversimplifying the process.
  • 7 3
 @mammal:
I retract my pervious statement and provided a correction below.

Gee: We believe that Atherton Bikes will disrupt the mountain bike industry.
Me: Ah..ok. Will you deliver bikes sooner than 6 months out like the rest of the industry?
  • 2 1
 @Pmars88: exactly
  • 4 0
 Yes fund it in the UK so you can bring back the bike building to the UK.
  • 25 0
 In other news I'm only seeking $500,000 for a 3% share in my ant farm start up.
  • 5 0
 @showmethemountains: the comment above is the sentiment of the public as there is apparently no desire to seel, as the website does not show anything, no bikes seen in the wild etc.. not a lesson on entrepreneurship, economies of scale and geopolitics ; )
  • 12 0
 They should go on Shark Tank...That would be amazing...Rachel dropping F bombs when they are questioned on their evaluation.
  • 15 4
 You saw the Grim Doughnut video right? It's like $300k just to get started manufacturing frames. You have to spend money to make money. Nothing wrong with opening it up to investors on the internet and giving them a stake in the company. Lol nobody is even reading the article and calling it "crowdfunding" just because you can invest using an internet platform. You don't get a stake in a Kickstarter, thats not what this is. Democratized investing that isn't locked up to people in the inner circles and financial institutions. How is that bad?
  • 7 14
flag foggnm (Nov 2, 2020 at 12:30) (Below Threshold)
 @freestyIAM True dat. And anyone who actually thought these bikes were 'real' in the first places is perhaps a bit naïve. I mean c'mon people, lugged carbon fiber frames from a start-up company? That's pretty much a ship on its way to sinking.
  • 11 2
 @coletrane-mtb:

1. They don't use traditional tooling.
2. They bought an existing bike company/brand that was already manufacturing, selling, and shipping bikes.

I can't imagine they actually need additional investment and this is all a marketing stunt (a poor one, to be sure).

The only other thing that i could think of is that COVID messed up their original business plan really badly.
  • 8 2
 Nearly every business has to raise capital at least once or twice in its early years. Simply selling a product alone is almost never profitable enough at first to allow for appropriate scaling and growth of a business. Often businesses look to VC, angel investors, or an IPO for capital, but crowdfunding is just another way to do it. Probably every successful bike brand in the world has raised capital in one of these ways.
  • 5 0
 @hamncheez: They bought an existing brand that was selling a small number of bikes. If they are wanting to do a large-scale public launch using the same process, then at a minimum they need to have a large enough inventory on hand of carbon tubes and titanium printing materials to match the number of frames they hope to sell. For example, if their material costs were $500 per frame (completely picking a number out of the air) and they wanted to have material on hand for 1000 frames, that would require $500,000 upfront to be ready.
But that is assuming the money wouldn't also be for equipment upgrades, facility upgrades, or other things
  • 6 0
 @vjunior21: actually, its not a 4 bar design. Its really a 6 bar design, as the chainstay rotates on two links lengthening overall chainstay length. It's called a DW6 link and it was created by Dave Weagle.
  • 9 1
 @showmethemountains: The issue is how did they not account for production launch costs with their initial business plan? They already have to have several million invested in their company, and it sounds like from a few private investors. Sending their truck around to world cups for the last two seasons probably cost more than what they are asking for here. What private investor would allow for this situation to even be possible unless COVID messed up their supply chain so dang much? I don't see it. On top of that, why wouldn't they maximise their existing manufacturing capacity along the way? They are only producing a limited run of 50 frames for now. The Starling Cycles guy, hand welding in his shed has a higher capacity than that. The only thing I can think of thats realistic is that this is all marketing stunt.
  • 2 0
 @hamncheez: if you read the article it says the current frames are made by a 3rd party. I would guess that they haven’t got the capacity to build full production numbers.
  • 7 0
 @cypher74: So what the hell did they buy, initially, if Robot isn't producing the bikes for them? The Athertons bought Robot; if Robot isn't producing them, that means the company and production capacity they bought is literally zero. Something stinks here.
  • 6 0
 @LeDuke: the three guys from the robot bike co are involved but I don’t think the Athertons bought the company even if they did the RBC was getting their stuff made by a third party anyway.

In previous articles they’ve said Renishaw. a manufacturing company based in Gloucestershire, United Kingdom prints the titanium lugs for Atherton bikes.

Maybe they should have started off with some more conventional bikes and introduced the carbon lugged ones as the top line models. At least they would have had some cash flow.
  • 5 0
 @LeDuke: They most likely just bought the intellectual property of Robot. The ideas, the engineering, the patents, etc. Which would not be all that unusual.
  • 2 0
 If youre willing to wait 12 to 18 months AFTER you gives em money im sure they could make it work or did you think it was free to produce bikes ?
  • 4 6
 @hamncheez: Most of the tooling they use is as traditional as it comes... Bonding and Alignment jigs are used by every frame manufacture out there. The only non-traditional tooling are the "printers" used to make the lugs.

You may want to delve a little deeper into frame manufacture, or manufacturing in general, before you spout off so much.
  • 2 2
 @hamncheez: Man, where are you getting your info from? You are reaching.
  • 5 0
 @cypher74: From what I understand the lugs are made by Renishaw, which is an additive manufacture equipment company, like HAAS is for CNC machines. Getting parts made by a equipment manufacturer is typically only done for testing and prototyping purposes, to determine if the equipment meets your needs before buying, or for training purposes. This is done all the time for different types of manufacturing.

I am betting that the early volume for these frames was so low that RBC or Atherton could get the lugs made in Renishaw's prototype lab. If they are now ready to expand to scalable production, they will definitely need to have their own printers. Another option is contract machine shops with printers, but that adds massive lead time due to queues in there schedule. Owning your own equipment means short lead time.
  • 3 0
 @vjunior21: suspension design has remained largely unchanged in all forms of motorsports, so whats wrong with 4 bar linkage? I don't see anyone doing a level of custom DH/enduro geo on par with Atherton.
  • 5 1
 How about they sponsor riders who actually podium showing us that they product works and is as fast as its marketed to be and maybe they'll get more traction and more sales!
  • 2 0
 Dude, no ones got the time for rational solutions. How dare you!
  • 3 3
 @vjunior21: yt disrupted the mountain bike industry, because they sell bikes at sensible prices and they are really good (apart from the pressfit bb). At that price Atherton bikes best come with a life time warranty and get Rachel back on it to win some more races.
  • 1 0
 @jomacba: aka.. Iron Horse.
  • 4 1
 @mikeyorange: it isn’t a handout if you’re getting equity in return for your money
  • 4 2
 You definitely have never been in business or in a growing business lol
These funds are required for them to "give you a bike" then produce more and faster.
Cash flow is required to buy the materials, pay the ppl or robots working on creating said bike.
smh
  • 5 1
 @zylogue: The reason it's a bit odd is 3D printing is the second best thing to outsource after laser cutting sheet metal. it's great because there isn't a lot of information transfer you have to do other than sending the model, and the rennishaw and EOS printers are so expensive that any owner will want to keep them operating 24/7. I'm sure once they figure out the optimal printing strategy you could made sets with different geometries for differnt bike sizes without changing the built plate geometry as the differences will be small. It may be Atherton has concluded they can run near 100% duty cycle just printing for bikes but it's a big bet. And you still need post machining so you'd want a 5-axis mill. If it was me, (without any research) I'd try to outsource the printing and in-house the multiaxis machining. If I had a mill I could also do all my jigs and fixtures for glue ups.
  • 1 0
 @nvranka: quit complaining.
  • 4 1
 @jj12jj: agreed. There has to be adventure capitalists willing to cash flow it up to operating speed. I can’t imagine there wouldn’t be. Dont crowdsource for funding. Do it the old fashioned way and do it slowly and incrementally over time if you can’t get either of those. Geeze
  • 2 1
 @Ryanrobinson1984: Like I said, they can't be stupid. No way would they not prepare for extra costs in advance. They started this company (purchased) knowing it would not generate meaningful revenue for several years. It has to be a marketing stunt.
  • 4 5
 @Ryanrobinson1984: it’s “venture” capitalists not “adventure” capitalists. Goon.
  • 2 7
flag ol-sidewinder (Nov 2, 2020 at 19:08) (Below Threshold)
 @Ryanrobinson1984: also, it’s “Jeese” not “geeze”. Unless you were going for slang for “geezer” in stead of “Jesus”? Goon.
  • 3 2
 @nvranka: nothing wrong with coal miners.
  • 6 1
 @mikeyorange: did you even read the article? The title is misleading yes; but it does clearly state that it’s basically micro investing where you’ll get percentages back plus your original investment would be my guess. Not just a company looking for handouts. Seems like a reasonable idea to me.
  • 4 0
 @R-M-R: Heads Atherton Bikes wins, tails their crowdfunders lose.
  • 3 0
 @R-M-R: I just went through this with a series B round and there was whole drag along clause for small shareholders who were involved in inventing the technology that spun off into a company. So as the round was closing there was one big effort to chase these seven people down to get signatures on this agreement so later if the big shareholders want to sell they don't have to worry about even asking the (very) minor shareholders. Otherwise the minor shareholders could cause all sorts of trouble to no one's benefit. . In the Atherton case you'd have to have the same thing, or perhaps just non-voting shares for these many small shareholders. Seems complex for something at the angel or VC stage. Weird on top of unusual.
  • 3 0
 @zylogue: a large scale metal sintered printer like they use will cost around a million, the overheads are massive too, with materials and maintenance. The actual part costs aren't all that bad though and the lead time is generally about 10 days for ti parts, so makes no financial sense for them to be buying printers. Renishaws work is generally going to be for F1 and aerospace, if Atherton suddenly started producing bikes in bigger volumes, they'd have no trouble with print capacity, a few bike bits are a side job them.
  • 2 0
 @vjunior21: It's actually a 6-bar linkage...
  • 9 0
 @The-Foiling-Optimist: It would be a logistical nightmare if investor approval was required from this crowdfunded VC raise. Seems unlikely.

This proposal is one of the most incredible things I've seen in the bike industry. Unfortunately, I don't mean that in a good way. Quick primer for those who need it: risk and reward should be proportional. Banks have low interest rates because there's almost no risk of the bank going bankrupt and investors losing their money. Venture capital funding has to offer a huge payback because the majority of start-ups go bankrupt and investors lose their money. There's also a hierarchy of repayment, with some types of investments being paid first in the event of bankruptcy. Holders of common shares typically get nothing.

This appears to be equivalent to a Series A fundraising. Series A investors typically seek 100% - 1000% annualized rate of return. The "predicted" rate of return here is 6.1%, which is the kind of return that should be expected from shares in a big, safe, established, and insured company, not a start-up. If that's not sufficiently discouraging, the equity is locked up until the company decides you're allowed to sell it, the order of repayment probably places these investors at the end of the queue, and, as discussed above, it's unknown whether these investors will have any voting rights.

I understand the need for capital and I wish no misfortune to Atherton, I'm just saying this drawing may have appeared in the PowerPoint presentation.
  • 2 0
 @R-M-R: article doesnt state 6.1% rate of return.
Better read it again.
  • 5 0
 @ColquhounerHooner: The original version of the article gave that impression. It has since been edited:

Edited for clarity: An earlier version of this article suggested that the 6.1% CAGR figure referred specifically to Atherton Bikes and not the bike market as a whole.We apologise for any confusion.
  • 2 0
 @hamncheez: The existing bike company didn't sell more than a midgets handful of bikes!!
  • 1 0
 @phutphutend: probably true
  • 2 0
 @hamncheez: Pretty sure they do not own any equipment and are simply outsourcing production to Renishaw. They want to actually purchase their on DMLS printer(s) to produce at their own site and remove a presumed service fee. Or Renishaw isn't getting any more marketing use from the project and has decided to start upping the costs. This is all well and good but simply purchasing a machine doesn't make you a manufacturer, they'll also need to hire knowledgeable additional staff to program, operate, and then process the printed parts when they're complete. A machine itself is easily in the minimum ~$250-350k range depending on build volume and they will need at least 2 if they truly want to start producing for themselves with capacity and then whatever market price is for technical staff in the UK.

Obviously they are using the crowd source option as a way to avoid the normal requirements for investments. Without them sharing their EBITDA to give insight into the state of the business this is a tough sell. No different than lending money to family and friends, just because you like someone and they are passionate about something doesn't mean they have a sound business or are the best person to invest in. I'd much prefer to buy a frame and receive XX amount of shares along with the purchase.
  • 3 0
 Well we are all a bunch of chumps, because they have already raised over £767,000 with about 1,000 "investors" and its only been a day.
  • 3 0
 @hamncheez: unless this is a stunt. #longliveconspiracytheories
  • 2 1
 @Lagr1980: THATS WHAT I SAID FROM THE BEGINNING
  • 3 1
 @hamncheez: (money laundering?)
  • 1 0
 @showmethemountains: But that is same for all small to mid size bike businesses probably.
  • 1 1
 @hamncheez: You need lot's of printers to scale up. I went to a 3d printing conference a few years ago and all the speakers said the printing is too slow for mass production. Good for prototypes and custom small runs.
  • 1 0
 @bobbys13: At one time crowdfunding was just getting money form friends and family.
  • 1 0
 @mtb-sf: GO PACK!!!!!!
  • 5 0
 @mikeyorange: mmm. they could. or they could not. they get to choose. just like you could choose to start a bike company by taking out a loan. or crowdfunding. your call. if you don't like it, then don't invest and don't buy their bikes. simple.
  • 3 0
 @parisgore: yes, it's different but the "article" states that: "Atherton Bikes have not yet confirmed what percentage of equity will be released to investors."
It sounds more like they think their company is worth more than the Angel investors and didn't want to give a larger portion of the company to the Angel investors and held back on the funding; in case they become successful... In that, they're using this crowdfunding as a way of a zero obligation loan that they can payout whenever they want, if successful, as they'll have the power in deciding that because it's not a public company. Or they'll have no obligations if it doesn't work out.
No way I would invest
  • 2 0
 @mikeyorange: Generally agree with your statements, just want to comment on:

"It sounds more like they think their company is worth more than the Angel investors and didn't want to give a larger portion of the company to the Angel investors"

This is possible, but I think it's more likely there isn't sufficient potential for return on investment. The company is in a high risk phase, so ROI has to be high. The sporting goods industry just doesn't have the potential to offer ROI like biotech, software, etc., making this industry unattractive to venture capital investment.
  • 1 1
 Yeah mate, im down for dat kind of inbest Good thinking
  • 2 3
 @mikeyorange: Lol you have clearly never made a bussines.
Dont be so shortsighted and spread trash m8 check yourself
  • 1 0
 @FastRiding: sorry, can't check myself mate... too much bussines to do... but maybe you can spellcheck yourself ????
  • 1 0
 @mikeyorange: “article”? It’s an article. Don’t over complicate it.
  • 1 0
 @ol-sidewinder: The only 2D printed parts are stickers.
  • 2 0
 @mikeyorange: I heard Dan is living in the race truck. !)
  • 92 12
 Give them a break! Crowdfunding sounds like a Sick idea to me..
  • 17 7
 Nod to sick bicycles?
  • 21 0
 Ohh subtle, I like it....
  • 4 0
 @fatduke: Baaahahahaha
  • 14 0
 Those losers (Sick) are now selling alcohol free beer - look at Mash Gang
  • 7 1
 @sewer-rat: interesting. I went to go talk shit on their Instagram page, and they have limited who can post on there. What a bunch of a*sholes
  • 4 0
 @Mntneer: yeah found em today so started trolling them on Twitter- parasites
  • 3 0
 @sewer-rat: oh my, when you think they couldn't go any lower...
  • 4 0
 lol, product's in the same line even, 3 beers and literally 3 pages of 'metal' merchandising
  • 4 0
 @Mntneer: Now there's a useful member of society. What a twat.
  • 2 0
 Exactly my thought when I saw the headline.
  • 5 0
 @sewer-rat: surprised they have not teamed up with that j@ck@ss from rich energy.
  • 4 2
 @ol-sidewinder: I’d burn down their brewery, but I live in the US so this is the best that I can do
  • 70 8
 "We’re sorry but residents of Japan, Canada and the US are not allowed to invest unless they are SEC accredited"
So much for growing your business in 2 of the biggest markets in the world!
#RIPAthertonBikes
  • 6 0
 I’m very surprised this is actually a requirement! Most “crowd investing” completely ignores this
  • 3 31
flag nvranka (Nov 2, 2020 at 10:17) (Below Threshold)
 Huh? Do you not know what an accredited investor is?

I could invest in this and live in the US. Probably have a higher net worth than the average mtb’er, but I’m certainly no angel investor.
  • 19 3
 @nvranka: so funny that they’re username is “yetirich”...
  • 10 1
 *their
  • 18 0
 An explainer on how to become an accredited investor: www.investopedia.com/articles/investing/092815/how-become-accredited-investor.asp

TL;DR
- have an individual annual income of $200k USD or $300k USD income with a spouse
- have net worth of $1M+
- be a "natural person" [I.e. no vampires, zombies, etc. Clones might be okay.]
- Dentists welcome!
  • 1 0
 @witica: hahah I didn’t even notice that
  • 9 1
 This mix of an angel round with crowdfunding is very surprising to this observer. In the US and Canada you cannot be an angel investor, that is, I can't sell you shares in a private offering unless you are financially qualified by regulatory agencies. The crowdfunding I have seen in North America normally seems to be about getting discounts and early access to a product, not shares in the company. So this is weird.

They did talk about bringing the manufacturing in house, which will require significant investment as the Rennishaw AM machines they were using are getting to $1 million once you've got the facility to move into, and you probably still need a multi axis CNC machine for finishing. Going this high end in price point and doing in-house manufacturing at the start is certainly audacious and would be a markedly different path from other successful bike companies of recent years. I remain fascinated though. The carbon tubes in metal lugs concept has been around since the Vitus Carbone in the 80's. What's different now is the 3D printing but how much of a game changer can that really be/ Yes you get faster iterations, but once your full carbon frame has good geometry, full carbon enables amazing optimization of strength and weight throughout the frame. Time will tell.
  • 2 1
 @The-Foiling-Optimist: Its not weird at all. There are many similar platforms here in the US for crowdsourced equity investing such as AngelList, Funders Club, Seedinvest, etc. Its a huge business here.
  • 2 0
 @sino428: How do they get around the normal angel regulations? I'm guessing you are buying into their fund, not directly into the companies they're investing in.
  • 2 0
 @The-Foiling-Optimist: I'm not 100% sure of all the mechanics of it but I would assume its something along those lines. Where its pooled into the Angellist fund.
  • 2 1
 @sino428: I daresay this is the case. Which still makes the Atherton situation of direct investment by small investors unusual and not something you can do in either of our jurisdictions.
  • 1 0
 @The-Foiling-Optimist: Yea there are going to be regulatory differences of course. I'm just saying that this is much more along the lines of something like Angel List here in the US, than say something like Kickstarter. Just looks like in the UK you don't need to be an accredited investor and can make relatively small investments.
  • 1 1
 @The-Foiling-Optimist: looking to become an F1 parts supplier too maybe?
  • 1 0
 @nvranka: hey, figured I’d throw this out, if selling an SB130 in the classifieds. You seem qualified. Let me know if your interested.
  • 1 0
 I’m***
  • 4 0
 @sino428: I'm still confused as to how this actually works. Like what's the benefit to me owning equity in this business? If it's incredibly difficult to sell your share are they offering a dividend? or is the idea to own it until it gets bought out?
  • 1 0
 Count your blessings.....they're trying to save you from throwing your money away
  • 3 0
 @friendlyfoe: this is a good point. generally this type of investment would be something that is held and the money is made when it gets bought out or goes public (where the shares can then be sold). So I’m not sure what the end game is here.
  • 1 0
 Nevermind rip, they raised over 700k £ within a day
  • 2 0
 @jj12jj: because this is very different from normal crowd funding like Kickstarter. Those site work on a donation/reward model where you are simply pre funding a product or service and your payoff is simply getting the product. It’s not an investment.

What the Atherton dare doing is actually selling an ownership stake in the company so it’s going to be subject to all the investment and securities laws .
  • 1 0
 Looks to me it follows the Enterprise investment scheme or seed Enterprise investment scheme legislation for uk investors. www.gov.uk/guidance/venture-capital-schemes-apply-to-use-the-seed-enterprise-investment-scheme
  • 60 2
 As an esoteric brand appreciator, I'll just say that any time that a brand goes the crowdfunding route, it's almost never, ever, ever a good sign. Basically means they can't get funded through your normal investor channels/financing options. Big oof.
  • 17 1
 I have to agree as someone who has dabbled in crowdfunding. The big vc and private equity companies aren't going to pass if there's money to be made.
  • 6 23
flag fatduke (Nov 2, 2020 at 10:29) (Below Threshold)
 No one is going to risk investment during a pandemic.
  • 7 0
 @dthomp325: There are many other factors to consider. VC and private equity firms also want their share of control over the company if they invest. If you want to keep moving your business along the way you want to, and not the way some board member from a PE firm does, then you have to find another funding route.
  • 15 0
 @fatduke: au contraire. Bikes are one of the few growth sectors around during the pandemic. If anything, this is THE segment to invest in.
  • 2 0
 @fatduke: bro some bsuinessses are booming right now lol
  • 2 0
 It's how the Trickstuff Maxima brake got funded/started. Same with Shockwiz. I think Singular funded a frame that way too, and thats just bike stuff
  • 13 0
 Should have invested in down votes.
  • 1 0
 @tomhoward379: I think Last also did it with the Fast Forward.
  • 2 1
 @withdignityifnotalacrity:
yeah affordable entry level shit, that means you end up with a bike. thats doing very well.
  • 3 0
 @Uncled: Have you ah, tried to buy a new bike lately?
  • 1 0
 @withdignityifnotalacrity: Not really. Short term bump. In 2019 many bike shops went out of business. Covid-19 is creating a false bump which will not last. Just look at cycling over the last 100 years. Always like a roller coaster.
  • 54 8
 Haven't all three of the Atherton's been making six figure money for years now? Aren't they RedBull athletes? Can they not put some skin in the game and...gasp...sell bicycles to finance their own operations? I live in a relatively affluent area (Front Range, CO) and have never heard anyone talking about an Atherton bike, let alone seen one in the flesh. Perhaps they need to get some bikes out into the public so people can exchange cash for them, and fund future expansion that way. Otherwise, 6.1% return ain't that great; you can do better on your own with a little bit of research.
  • 28 5
 Maybe if they had been making millions instead of hundreds of thousands which wont get you dick.
  • 26 2
 @Jsmoke: But here's the thing: they took over a bike company that already existed. The bikes they are selling were already being made at a facility that was already completely operational, producing bikes that people were buying. Unless the place burned to the ground, I have a hard time understanding why they need additional money. If they are selling so many frames that they need to expand to provide additional manufacturing capacity, the money from that will take care of itself. Otherwise, what is this extra money doing? What happened to the existing production ability of the former Robot company?
  • 28 0
 Because one of the primary rules of running your own business is don't put your own personal capital on the line. I'm pretty sure the Athertons don't want to end up broke if this doesn't work out.
  • 19 2
 Funny how much hate is being flung around because of the way the Athertons are choosing to develop their business. They haven't shorted anybody on anything, yet the pitch forks are already in the fire, waiting.
  • 5 1
 @SlodownU: Why did they buy Robot bikes in the first place, then? They did exactly what you suggested, now want a bail out from the public, with a poor return on the dollar/pound to boot.
  • 3 0
 You don't think they have already invested a good deal of personal money already?
  • 6 0
 @LeDuke: How do you know that they bought Robot with their own money vs. a loan? The Athertons are smart, I doubt that they invested their own capital, especially with something as risky as starting a high-end bespoke mountain bike manufacturing business, something that is niche within a niche. I like the Athertons, I like the bikes that they build, I want them to stay in business because I want one some day. This current development makes me wonder though. As an investor, I would want to know exactly why they need this money, and what the plan is going forward to get into production and start selling bikes so that I can see a return. Right now would be a great time to be in production given the back-order from high-end manufacturers like Yeti, Ibis, etc. An Atherton bike would be a great alternative, however I wonder if they need this loan to cover overhead, salaries, etc. to bridge them to next season?
  • 4 1
 As apparently only 50 bikes/frames were sold up to now, the chance of seeing one in real life is very small
  • 4 0
 @LeDuke for what its worth, in the front range you already have Guerilla Gravity and Reeb doing everything in house and Alchemy that I think is still doing some in house (?). If you are the kind of person who wants bikes produced not in Asia and you live in colorado, you already have plenty of options.
  • 3 3
 When the launch of the company was announced, I said that and clearly people were not on the same side as me:

www.pinkbike.com/news/athertons-launch-atherton-bikes-with-robot-bikes-founders-and-dragons-den-investor.html
" lRaphl (Jan 25, 2019 at 7:29)
I wish them good luck but can't get out of my head that it's prone to fail."

I still stand by this and that croud funding scheme just reinforces my feeling about it. Barely no bikes sold (50 is a bit ridiculous), a lot of money and time invested,need more cash to keep going...
  • 1 1
 CRONA definitely affected their business plan, i honestly think that this funding they are asking for is to recover for some of the Covid loses due to the supply chain being so interrupted and the rest of the money to keep the ship sailing according to their original business plan. It really sucks, as a business owner it affected me when Trust Forks went under, and it seems this company is going the same route.
  • 2 0
 @Jsmoke: they're asking for GBP600k which is "dick". You could barely afford a small London apartment with that, which many ordinary people do.

Surely they're well off enough between the 3 of them to finance that with their own assets.
  • 4 0
 @SlodownU: which is precisely why as an outsider you don't invest.

If management/founders aren't significantly more invested than you, you're the "dumb money".
  • 2 0
 @LeDuke:
Spot on. 6.1% is dismal for a high risk start-up. And that's CAGR.

Plenty of big established companies that would pay something like that as a dividend yield.
  • 1 0
 I can't invest anyways because I'm in Canada but you make a good point. Why should I invest for a 6.1% return when even my RRSP is making more right now.
  • 1 0
 @Ktron: Right. The founders have the rest of their lives to live after the racing is over, so they would be fools to invest their own money.
  • 42 1
 If 1 000 000 people give me every month 1$ then I would have a pretty nice life.
Anyone interested???
This is no scam, I would be really happy for the money, also I need the money, so help me!!!!!
  • 6 0
 I will do that but what’s is in it in return? Want a 0.001% of all future happiness and positive experiences. I take no responsibility on the negative outcomes with full deniability of financial connection related to any criminal charges that may rise. Interest on payments will be back dated to 1 September 1976 at 4.65%.
  • 24 0
 Our first round of fund raising was so successful that we decided to stop fund raising so we could leave room for crowdsourcing...wut
  • 18 0
 this is the biggest red flag, or a (poor) marketing stunt
  • 3 0
 "We've tapped all the sources we could find in the traditional market, now we're trying to drain some money from the fan base".
Read: no more investment bucks. You get to give us money, and if you're lucky, you get something back. Likely not.
  • 22 0
 (removed due to potential legal reasons)
  • 9 1
 really want to know what "legal reasons" this comment was removed for
  • 15 0
 @Hookem34: joke/your head
  • 1 0
 We just don't know
  • 19 1
 The endless delays and the huge sums of money being thrown around is ringing alarm bells for me - seems like they are getting this really wrong somehow.
How can it possibly have taken them this long to get bikes to market when they basically took over what was already a functioning bike brand (Robot bikes) in order to start this off. It’s like they’ve been going backwards for a year or two now.
I really hope I’m wrong but I’m fully expecting this whole thing to end in tears.
  • 1 0
 Plus the large numbers of bikes they have Built for themselves
  • 16 0
 The numbers don’t seem to add up. 1500 frames a year at 16 hours a print. That’s 24,000 printing hours. Even if they managed to run 24hrs a day, 6 days a week (a massive ask in the world of production) that would still need 3.25 printers. RenAM 5000’s are £500,000 each. So they are either finding £2M for the 4 machines they’ll need, or paying Renishaw a huge amount of money to print for them. (And I find it highly unlikely that renishaw have that much spare printing capacity) Then there’s the conventional machining times to seperate and finish the printed lugs. And we’ve not even got round to the actual bonding together of 1500 frames a year, that’s 6 a day based on a normal working week. All of a sudden the £600,000 is a tiny drop in the ocean (or the 1500 frame sales are pie in the sky?)
Having said all that, I really REALLY hope it works for them. I’ve spent a fair bit of time with Brownie and the Atherton’s you couldn’t meet a nicer bunch.
  • 5 0
 @Cord1 Being nice doesn't provide any value to the potential bike buyer or the industry as a whole. Quality products at fair market prices, delivered in a timely manner with good customer support is what brings value to the buyer/industry.
  • 3 0
 Don’t let facts get in the way of the dream
  • 15 0
 Will there be an opportunity for potential interested parties to perform some basic due diligence on the business before investment occurs?
  • 2 0
 and what are the terms of this funding round vs the terms from the previous round? Based on how early the business is, I doubt this is a priced round with $ per share. It is more likely something like a SAFE or a convertible note, and so would the angel round.

Assuming the whole amount is raised, how is it allocated? If a partial raise, how does that change?
  • 13 2
 To me crowdfunding is to allow an idea to get off the ground.

The Athertons are an established brand in their own right, have already received ‘angel funding’ and realistically tweaked and rebranded a design and process robot previously put in place - probably at great expense in terms of time at least.

I’m not sure this thing is at the crowd fund stage anymore, essentially the money is wanted to purchase machinery and market the product they already have - at this stage, in my eyes it’s asset finance and putting your own ass on the line (been there, still paying it back...)

I think it’s always good to see a business where the owners believe in it enough to stake their assets / future on it before asking others for money, maybe they already have though?
  • 1 0
 Did robot bike also receive large amounts of funding , we have these catapult technology centres where large pots of money seem to vanish whilst not actually producing anything tangible ( well it’s usually a few prototypes) a bit of marketing blurb and profile raising for all companies involved before going on to seek investment , the very first post at the top of the comments used to be how it used to , got done and often in more than just bike building and a lot of folks usually just go for. It and either fail or succeed
  • 2 0
 @Compositepro: Growth of a business through hard work and taking personal risk? It will never catch on.
  • 11 1
 Seems there's a few folk that don't know basic business running. Can't expand bike sales if bike production costs more to outsource it rather than do it in house, hence crowd funding for in house manufacturering equipment.
  • 2 0
 Exactly.
  • 10 4
 They took over a company that already existed and was already make frames with equipment they owned.
  • 3 2
 @LeDuke: They never stated that they took over Robot Bikes. They said that they were using the same tech, and that one of the members involved with Robot, was involved with Atherton.
  • 3 0
 Whatever way you look at it they need to sell, sell, sell.
  • 2 0
 @mammal: actually looks like a company bought robot bike co assets for 10k

find-and-update.company-information.service.gov.uk/company/11801566/officers
  • 1 0
 @richard01: And..?
  • 2 0
 They sure as hell aren't going to be buying and running a metal printer for £600k, it even says there they're spending it on a website. There's virtually no investment required to build their bikes if they're built to order, they need some simple jigs, some tubing stock (if it isn't off the shelf, which I'd have thought it is) and the bonding gear. Aside from buying a catalogue frame from Asia, itll be the least investment required to build a bike.
  • 9 0
 I'm gonna add my two cents, seeing as everybody else has. Ladies and gentlemen, and those of you who are clearly offended that somebody or a group of somebodys are asking for help. First and foremost, this is not a tax, and this you have the OPTION to partake.... Now moving on the obvious.
The concept and idea behind Atherton Bikes is new, and this industry has not yet seen long term results of this process.
Adding in the refinement of the linkage design and kinematics, flex, and overall ride quality takes alot of testing and time. I for one would prefer a company takes their time to produce a truly high end product, rather than spitting out mounds of turds for a dollar. Many of you must be forgetting that they are competing against companies with millions... even billions, that have almost infinite resources for production. Here's the thing most people need to consider. If it doesn't effect you, then why are you so opinionated? Do you have enough knowledge and education to properly even form an opinion? Relax, and be happy that there are people out there trying to take tech to the next level. May not be for you, but its might inspire something that is. Thats evolution of ingenuity.
  • 2 4
 Oh no some people on the internet had an opinion. Why are you so offended they have an opinion?
  • 2 0
 @JoshieK: Did you read what I wrote? My statement was directed at those who are offended. My point however, was focused directly to those who are dislike or are offended about at topic they are likely uneducated about. As I stated, we all have a choice to partake. Nobody has a gun to anybody head, so what's the point in getting so upset?
I personally have zero interest in the atherton bikes, and the way they are conducting their business is not how I would do it. However; all of that affects me zero.
  • 1 3
 @jomacba: I've skimmed over both of your word salads briefly. Im still not sure why you are offended by anonymous people on the internet.
  • 1 0
 @JoshieK: First of all, I'm not offended. I can assure you of that.
And secondly, I enjoyed the term "Word Salad"... Clever.
  • 1 0
 @jomacba: No problems, I will allow you permission to use it in future dialog.
  • 3 0
 @JoshieK: I appreciate that, and most definitely will. Thank you sir.
  • 7 0
 I think we need to actually understand what this is before rushing to judgement here. This isn't "crowd funding" in the sense of how many other companies have done it or what most are familiar with. This is an actual investment in the equity of the company while most crowd funding you have seen in the past (such as kick starter) is just on a donation/reward model where you are essentially just giving funds in exchange for some kind of tangible good or service (usually the product they are trying to develop).

Crowdcube is funding platform in the UK which is similar to things like AngelList and Funders Club (among others) that we have here in the US. These are very popular and very attractive way for businesses like these to raise money.

I also see that alot of people wonder why a regular venture capital firm or PE firm wouldn't invest. The reason is really that its too small. While it sounds like alot of money, $775K is a very small investment for even an early stage VC firm, let alone a large PE firm. This size investment is really still more of an Angel type investment and not something most VC's would be looking at.
  • 7 0
 Crowdfunding can work well for consumer-facing companies as it's essentially marketing, and once you have a few hundred (or thousand) investors, that's good word-of-mouth. It can be a very cheap (in terms of % of ownership given away) form of growth finance. Crowdfunding a B2B business is a red flag for me, but here it could be a good move.

It wouldn't surprise me if making bikes from 3D-printed lugs, carbon tubes and adhesives is really hard. Once they have it nailed, that's a strong competitive advantage. Yes, they could have been more actively selling but... what if they sold more than they can deliver and piss people off? Or what if it's not quite ready for volume production yet? A serious failure in the field, under a paying customer, could kill the business.

More transparency would be good, because a vacuum of information causes speculation. However, this type of finance is regulated to high heaven in the UK, so they will have chosen their words on the website very carefully. They need to spend the money on what they've said they will - selling and manufacturing capacity.

Note Atherton Bikes is not predicting a 6.1% CAGR on investments, they're saying the cycling market is growing at 6.1% CAGR. No prediction is made for a return on investment, either as capital growth or dividends.

I wish them all the best... I may even buy a few shares.
  • 8 0
 I have long suspected the Atherton Bikes business model to be fishier than an otter's breath. I would sooner invest in an Eddie Masters range of volumising shampoos. To quote Dragon's Den, "I'm out".
  • 1 0
 LMAO!
  • 9 0
 I heard taking out bank loans and selling bikes has the potential to make a profit too.
  • 7 1
 So they plan to sell 1500 frames/bikes per year the next 5 years? They managed to produce and sell 50 frames/bikes in almost 2 years(not counting prototypes and bikes for Gee, Rachel, etc)

Say a year has 250 working days, they plan to produce 6 frames per day? Not sure how long the 3D printing of the lugs takes, but this sounds pretty optimistic? I mean going from 50 frames in 2 years to 1500 a year is a HUGE step

What are these forecasts based on? Have there been tests? Have people committed to buying the frames? Don not get me wrong, I like the frame(but would have kept the Ti lugs raw titanium for them to stand out more, highlight the Titanium against the carbon tubes) but what is the warranty, turn around when ordered, and when something goes wrong?

Is there more information on how they plan to get to 1500 units per year and also sell them. Is this realistic compared to other high end brands?

Is a business plan available?
  • 1 0
 According to their website, it takes 16 hours to produce a "lug set" in their existing tooling (I'm assuming that lugs for 1 frame). So they'll need at least 6 of those machines so that they can start a set a lunch on Monday and have them going into frames by breakfast on Tuesday.
  • 1 0
 The first 50 were produced to demonstrate market interest to potential investors. It was a means to an end, a market test; the actual production and income from sales were of little importance at that time.
  • 6 0
 "Atherton Bikes is a private company, which means it doesn’t trade on a stock exchange. This means you can only sell Atherton Bikes shares when a ‘liquidity event’ occurs., that is when the whole or part of the company is sold, it lists on an exchange, or it sells a major asset such as a brand."

...and for that reason, I'm out.
  • 2 0
 Yeah so basically you’re just gifting them money for their business, you are not getting anything out of it! Seems more like charity to me than investing.
  • 10 1
 and how many bikes was sold until now?
  • 10 0
 That might be useful information for potential investors...
  • 3 0
 They say in the post that they sold 50 bikes (they only limited the first production run to 50).
  • 10 1
 @Ryan2949: oh, 50 bikes only in how long?...I don't know. To me it sounds more like cry for help than the opportunity to invest.
  • 10 1
 @Ryan2949: There are individuals building bikes by hand that have sold more bicycles in that time frame.
  • 1 0
 33
  • 1 0
 @Ryan2949: But they're still available.
  • 6 1
 What's up with you all? You don't have to invest if you don't want to. Mind you, pandemic and Brexit (that totally unnecessary business killer) might make it a tad of a struggle. Get doing a few EWS rounds to promote these bikes Athertons!!
  • 4 1
 Lots of the “crowd investing” is relatively predatory and skirts regulations meant to protect investors hence the anger
  • 5 0
 The Athertons' have each invested £11k into it and the "millionaire dragon" Piers Linney has invested £10k into it. The business has no cash, nos assets, no liabilities and a net worth of zero. They are asking for the price or thereabouts of a Renishaw 500Q AM machine. Seems like they could all invest a little more themselves before asking 64000 rounds of £11 from Joe Public.

But what do I know?

Oh and the there are five active directors, four past directors and the shareholder equity is also zero.
  • 1 0
 Where are you getting this info from?
  • 1 0
 @chef-sramsay: that info doesn’t seem to add up. It’s either not complete/current or a little misreading. Those numbers would suggest that they have gotten to company to where it is now on $84K of cash? They have multiple rounds or prototypes, and ad campaign, sponsoring a race team, trade shows, etc. There is no way that’s all done on 84K.

A few possible explanations I can think of. One may be that those #’s represent the very first infusion of cash. Maybe a situation where that site is capturing only say the status as of the end of 2018 (as filing tend to lag). And much more has been put in since.

It could also be matter of what exactly it’s reporting. Sites like that don’t generally have the specific financial and ownership details of private companies. It could be that those amounts are just a calculation of each owners share based on say the par value of the stock ($1). It may have no actual relation to what each investor actually invested. I mean this Piers Linney guy is investing hundreds of thousands at a time on Dragons Den, yet he’s only putting 10k into Atherton bikes? Why would he even be wasting his time with such small investments. This who thing is much bigger than that.
  • 1 0
 @sino428: the race team is a different company called Atherton racing which in 2019 was owed £1m debtors
  • 1 0
 @CM999: so who owes what to who?

And of course the race team is a different t entity as it sponsors riders outside of the company like Millie and Charlie, while also having a whole host of other sponsors. But as the title sponsor of the race team, along with continental, Atherton bikes had to be kicking in a good deal of finding to the race team.
  • 6 0
 The reality of additive manufacturing hits hard don't it. There is a reason most machine sales are medical, aerospace and automotive.
  • 1 0
 Yeah its not great. You can cut and weld up a basic lug-set out of steel in a day. Maybe two or three days if you want them all fancy and artistic. If you are using a very expensive machine to do the same then it should probably do it a bit faster than that if production is the goal. Additive is good for low volume and one off work. Production on complex parts - not so much.
  • 6 0
 I’d be more interested in crowd funding the grim donut if I want to throw away some cash. That beast could ‘disrupt the mountain bike industry’
  • 4 0
 So the big problem is your money is stuck until a liquidity event.
Given most bike manufacturers on are not publicly traded the likelihood of an IPO (getting listed and becoming publicly traded) is incredibly low.
I mean heck even Specialized are still a private company!
This means you are stuck waiting until they decide to "sell" part of all of the company but there is absolutely timelines for when that would be.
There is very little benefits to "investing" apart from the moonshot that they grow to the size of Specialized/Giant and so an IPO but given the amount of competition out there from cool rider owned brands who struggle to get to this size why would Atherton bikes be any different?
  • 3 0
 Funnily enough I was only wondering what was happening with the Atherton bikes recently and went on their website yesterday.

They really need to get a move on and get bikes out there being ridden by customers.

I feel the Atherton name was going to be one of the selling points but they’re no longer n the spot light like they once where and the project, to an outsider, looks as if it’s lost a bit of momentum.

Hopefully they’ll get things sorted and prove me wrong.
  • 3 0
 "I'll take a truck please. Where do I sign?"

"How would you like to buy the whole dealership today? It is shockingly profitable -if you look at these figures-. Chance to get in on the ground floor. What payment would work for you?"

"Just a truck thanks..."
  • 3 0
 They’re looking to bring the additive manufacturing process in house instead of having to sub it out to another manufacturer that probably manufactures parts for other companies, not just bike components. That means with every order they need to get online and wait for their parts instead of being able to simply have a dedicated setup under their own roof that can run as much as they need it to. Makes complete sense. They’ve got the design and the manufacturing process down beyond prototypes. They need the control of being able to make them in house so they can be delivered quickly. Why so much suspicion towards the Athertons in these comments? They’ve never presented themselves as anything less than completely professional, and they’re clearly devoted to their brand. Also, I’ve never seen such a highly functioning family group. They’ll get it done.
  • 2 0
 They must be planning other manufacturing. I have first hand experience in AM setting up space, buying machines and costing. The business case is hard to make unless the machines run flat out. The machine is the cheapest part.
  • 1 0
 It says in the text it's for their website
  • 5 1
 After years and years racing., cashing in on the. "name" "brand" there but willing to invest there own money to fund there own project, THE GREED IS REAL..
can't win any races so I'll ask the public to fund our business
  • 3 0
 If you access the details on the ask, it shows that this round of funding is actually about them accessing a larger UK government grant. If they can raise 500k then they get the grant to take them to the £2m they would need for the expansion. Its why the figures dont add up on the surface because this isnt obvious in the comms. They have done this which is great and I hope it helps drive costs down. Good luck to them.
  • 7 2
 i looks like every other full squish why do we need to build your company for you ?
  • 1 0
 Remind me, how many other brands are bonding carbon tubes into 3D printed titanium lugs?
  • 3 0
 @alexsin: bastion cycles and they are doing very well out of it
  • 2 0
 @Compositepro: Nice looking bikes! $8000+ USD puts them well out of my price range.
  • 6 1
 $775,000 motherf*ckingUSandA dollars?! Just listen to @freestyIAM and sell your f*cking bikes! jezzzz!
  • 5 1
 Sell pizza to make money. Invest the profit in bikes to be able to sell more pizza. Buy more bikes. Continue the circle and become rich.
  • 6 1
 It definitely seems like a LOT of money to need all at once, especially as people have pointed out they probably make 6 figures. I suppose in order to sell bikes to grow, they need to be able to produce more frames faster, and that mans more equipment. I could easily spend that much on a couple of Very nice CNC machines for the shop I don't have yet. And I like that at least ordinary folks get the chance to invest...
  • 1 0
 @Mattin: what do your think Dyfi Bike Park is for? Cash flow...?
  • 1 0
 @rosemarywheel: I have 4 cnc machines in my shop not one of them has ever made a return making anything to do with bikes , ordering finished things in boxes from Taiwan because they’re good at it seems to work well :-)
  • 1 0
 @Compositepro: That's, um... positive thinking. But seriously, it's good to know. I want to make bicycle components as well as frames for the rest of my life (as well as a few other things) I am not looking to be rich, but I would like to make enough money to sustain myself and continue making things...

By the way, I looked at your profile and you have some awesome pictures of fixtures and things. Are they all for framebuilding? and what is the company that made them? Beer
  • 2 0
 @DHhack: But does Dyfi sell pizza?
  • 1 0
 @JoshieK: whatever Mama Atherton wants to cook up I suppose!
  • 4 0
 @DHhack: I must add off topic that the food at dyfi bike park is excellent but they definitely do not sell pizza (burritos instead) maybe burritos are the new pizza.
  • 1 0
 @rosemarywheel: hey man you go for it ...thats whats lifes about ...you will never regret the things you tried] the company that made them was my own , now defunct i went back into sinking ships
  • 2 0
 @jimyg: my favorite bike park in the US, Highland, sells both!
  • 6 0
 I like the Athertons and all...... but......
  • 6 1
 Business lesson, never go into a business with a failing company! Get out while you still have your shirt on your back!
  • 6 1
 Looks like a great investment if you enjoy throwing money into a fire. No, at least that will warm you up.
  • 3 1
 I would only invest if I knew the company would aim to create a loss leader product with the goal of establishing itself through market share. The frames are too expensive, and that fact alone is at risk of ruining the company.
  • 2 0
 so I give you money, and you give me nothing unless you sell one day? And what if you stay ‘rider owned’? And you haven’t sold more than 50 bikes yet claim a 15000% increase in sales?

This is not much different to those emails from Nigeria asking for a £10,000 to release my share in a lost royal fortune.

Sorry but you have lost all your creditability with this scam.
  • 2 0
 This has to be looked at purely as a marketing stunt, albeit a poorly presented one. My reasoning is such:

1. Piers Linney is a shrewd and successful investor. If they needed the money and he believed in the project, they would have it. He probably does and they probably do have access to his money.
2. The sums on capital expenditure vs production vs requested amount dont add up. The would need 4x that amount to cover bringing the manufacturing in house.
3. They state that this is allowing the community to invest, so its not necessarily business motivated. They should be more open about motive here and where the money is going.

So assuming this isnt about really needing the money then one has to look at what value an equity share would be but.....

1. The brand is closely associated with the Athertons, making a sale of the company unlikely in the medium term. Their brand is marketing for the bike brand.
2. They have sold 50 bikes. There are no real world reviews of their bikes and the range is limited.
3. They haven't announced the price per share or the overall share available.
4. They state how the company 'may' grow in future but they dont state what kind of 'equity event' they might consider in future. My suspicion is they aren't considering one or the only one they would consider is a buy back if things get profitable.
5. They is no info about dividends/profit share. If there was then it might encourage people to consider this more. Return on investment isnt just about sale of shares.
6. Its really not clear who is running the business. With the distractions of the WC and running a bike park, it cant be the Athertons themselves.

As someone who invests, too much of this rings alarm bells to me which is a real shame. I really like the Athertons and would love to invest in their company and also to keep manufacturing in the UK but Im not sure I would ever see a return. I do think they will be successful with this but to invest I would need to know:

1. Amount of equity on offer and price per share.
2. Where dividends are being paid.
3. What is the intention and type of equity release planned for the future.
4. What the money is really going to be used for.
5. Who is running the business

Personally I think they would have been better getting a bunch of great reviews and then crowd funding the first batch of bikes at a discounted rate to raise the 2m they need to bring it in house. Or to offer a equity stake with a significant discount on a bike so there is medium term value to the investor. The business can be run at break even while they scale up.

Shame really, if it had been clearer I would have supported it.
  • 1 0
 Company valuation is 4.3m for 12.10% equity share at 600k. They have already raised 90% in first 15 mins from circa 100 investors. Someone put in a big chunk of money!
  • 1 0
 www.companysearchesmadesimple.com/company/uk/11205194/atherton-bikes-limited/#people

According to the basic company search, Piers Linney has invested £10k. He is also a director. So if he is a shrewd investor why has he not invested more? Because it walks, talks, and quacks like a duck. By duck, I, of course, mean company going into administration.
  • 3 0
 Fully funded inside 24 hours......
You couldn't raise that through conventional investors in the same time.....
www.crowdcube.com/companies/atherton-bikes/pitches/bj9Q5Z
  • 2 0
 All this investment talk aside, i always had another problem with their concept nobody seems to ever mention.
The fast lived nature of the cycling world.
While i as an enthusiast view their process as an advantage and certainly a useful technology to further flexibility in bike design and customization, my problem with it when it comes to the future attractiveness of the company comes with the inherent inflexibility in design.
We all know, the biggest part of the mtb customer base is lusting for constant updates and improvements. This has taken rather ridiculous forms in recent years, where companies switch designs on a perceived weekly basis.
While companies like Nicolai, Last, UNNO, Orange and various others have found their firm niche in the market, they´re nowhere near ever expanding into relevancy outside of a very dedicated core customer base, like for example YT-Industries or Canyon did.
So while their product in itself seems awesome and in many ways beneficial for the intended target audience, these customers are not easy to cater to and the fact that upon release their bike designs are now already dated, without any obvious option of drastically altering appearances every three years (they´re bonded carbon tubes held together by lugs after all) is kinda concerning to me. I´m not sure how many people will actually chose the old trusty Atherton bike over whatever new fancy carbon spaceship Yeti releases in the same year. Periodically changing the whole bike´s layout (linkage design or massive geo changes) seems like the only way of staying relevant in the mass market for them and with the geometry option we have arguably already reached the peak of what is reasonable.
I get they are basically a non existant company at this point and therefore i´m assuming a lot about what their plans for the future are, but with public outside investment and what is basically an already established brand name with a tangible value to it, simply catering to a few enthusiasts doesn´t seem to be what they should be after. They could probably make more money from simply selling their naming rights to Wal-Mart or whatever brand needs a face for their new line of recreational sports bikes.
I have absolutely no clue on the intricacies of financing or maybe even building a brand to sell off at some point (if that´s what they´re trying to do), so maybe someone else has an idea. I can only contrast this to companies like YT which have built themselves from budget to low level prestige brand in record time, yet Atherton bikes seems to do exactly the opposite of what they have been doing. It seems to me they will be a lot like UNNO. Strong ethics (production "at home"), quality, flexibility etc., but i cannot see them growing beyond a certain point with that approach (which isn´t inherently wrong!), yet their business approach tells a whole different story, because with their name´s potential selling power they have to make a big splash in the market upon arrival.
It´s just something that always kinda confused me about the potential longevity issues of their design approach and what i should be expecting from this company in the future. Right now i just feel like they´re in a very weird spot going by what they offer, who they cater to and how they present their business.

Whatever, I really hope they do succeed though. They seem like a deserving bunch of people very invested in the sport and the bike has a lot of potential i wanna see come to market.
  • 4 2
 Why does everyone want to knock something new it’s a whole new way of making a bike and a new way of funding it seeing too many “something for nothing” comments your putting in funding in exchange for shares.
  • 2 0
 would make sense for the Atherton's to start riding "enduro" bikes. If you want to shift 7,500 frames, best cater for the mass market that is trail & enduro rather than DH.
  • 4 1
 I would rather invest in a Trump run company !!! more chance of a 6% return and if you believe that you think Trumps not a Racist Bigot !!
  • 1 0
 I wonder how much of the company I would own for dropping $800k USD ~ 600k BP? Like enough to be a member of the board? This is all hypothetical of course...

These super niche companies do end up surviving, but my only issue is the market is so saturated with companies right now. You got the big names of specialized, giant, trek, etc. and high end boutique such as UNNO, antidote, hope, etc that have 1 or 2 solid investors.

So I’m wondering what is Atherton’s actual goal?
  • 1 0
 Not sure how what they're doing jibes with U.S. law.

Usually in 'Murica, shares in non-publicly traded companies can only be sold to accredited investors, who have to satisfy certain requirements, such as making $200k+ a year. I want the Athertons to succeed, but this seems like a dicey approach with a meaningful risk of a lawsuit attached.
  • 1 0
 If you click the link it’s says that if you are in the US (and a few other places) you must be an accredited investor. It seems this crowdcube investment platform is legitimate and follows all applicable laws.
  • 1 0
 @sino428: I'm not doubting that crowdcube is a legitimate platform. My only concern was that they aren't dotting their "i's" and crossing their "t's" with respect to compliance with SEC regulations.

As a (just barely, I'm not a dentist Smile ) accredited investor, I can vouch for there being a couple of SEC forms you've got to sign to invest in non-publicly traded securities in the U.S. I'm skeptical that the click-through consent that the crowdcube platform is equivalent to completing those forms.
  • 1 0
 @rodeostu: I just looked up some additional details from the site. Seems that investing from the US even as an accredited investor is a little more involved than it would initially seem. Seems to be more than just clicking a few boxes so I would think they have their bases covered.

help.crowdcube.com/hc/en-us/articles/360000152264-Accredited-investor-guide
  • 1 0
 I wish them all the best but don't they have any of their own money, sponsors and backers willing to invest? Its knocking the 'brand' going this route. What happened to the first phase? The issue with the crowd funding route is if it crashes and burns you've burnt and created ill will for any 'phase 3'. Start with and develop a clothing line. Then add in batches from the likes of Marino frames- "A line" ..
  • 1 0
 This is so frustrating. If they think they can sell bikes then take pre-orders for actual bikes to cover the cost of manufacturing, some money upfront to cover the risk and get an idea of where the market really is.

This £600k will inevitably go in to ‘marketing’ which just means paying the wages of the Atherton’s and for them to travel to amazing places for a photoshoot. Amazing family and have done a lot within the sport, but this seems very underhand.
  • 1 0
 Someone put in a huge wedge of cash within the first 10 mins. It went from 0 to 70 investors funding 500k + in that time. Good luck to em I say if they can raise the money. They build a 170mm enduro bike that gets good reviews then Im in!
  • 1 0
 I cant see this company succeeding at all. It worries me further than they want crowd funding money. I mean I thought they had money themselves and Dragons Den millionaires. Surely the Dragons Den peeps could invest if they thought it was profitable. But given the cost of these bikes, I cant see them expanding beyond being a boutique custom brand for a very few select customers. Plus the Atherton's are not exactly as big as they used to be. Call me a sceptic but I think this is a bad investment.
  • 1 0
 Perhaps they have more details somewhere about this, but I would need a hell of a lot more to go off than a single sentence that says they expect to sell 7500 bikes in the next 5 years. That’s 1500 frames a years, or what, roughly 5 frames a day? What are current sales figures at? And is 7500 just a 6.1% increase on current sales, or are they estimating some wonderful bike sales gypsy to bless them with some crazy exponential growth in sales? I’m not hating on Athertons specifically, but this seems to be missing some important-and basic- details.
  • 1 0
 All the details are available when you register
  • 1 0
 Local laws prohibit residents of US, Canada and Japan from investing through Crowdcube's platform. If you reside in any of these countries, then you will not be able to invest on the Crowdcube platform unless you are an accredited investor.
  • 5 0
 Wtf
  • 4 2
 bigoof.gif Bummer. Maybe they could have set their sights a touch lower and offered a standard model that people could actually buy to help generate cash flow.
  • 4 1
 to be fair, those super mario pipes they use on their bikes do look kinda sweet
  • 5 0
 I'm out!
  • 2 0
 Here in NZ I've been waiting 6 weeks for a shimano 11 speed chain; not a lot of confidence in the bike industry at the moment
  • 4 0
 6.1 vs inflation, risk . . . hmm.
  • 1 0
 vs a 7.whatever annualized return by throwing pickles at the wall on the DJIA. I mean, with no analysis done, you do better (over time) by just sticking it out in the stock market, by a whole percentage point.
  • 1 0
 @LeDuke: exactly. Love what they are doing but you've gotta get me something to chew on here. I could get a government bond for that return.
  • 3 0
 Interesting how many people think Crowdcube and Kickstarter are the same thing...
  • 3 0
 Wow 50 frames sold. So seeing one in real is like spotting a UFO. Naaaa more people have seen UFO,s
  • 1 0
 LMAO!!!
  • 1 0
 "Our initial Angel investment round was so successful that we had to close it early to save enough shares for the mountain bike community"...….. I'd get back on the phone to them Dan!
  • 2 0
 Email received 10 minutes ago and target has been all but hit.

www.crowdcube.com/companies/atherton-bikes/pitches/bj9Q5Z
  • 1 0
 And in 16min it’s at 100% and rising.
  • 1 0
 Reached its target already!
  • 1 0
 I’m starting to wonder if the comments section is a reliable barometer of wether to invest or not lol
  • 2 1
 @Compositepro: Sounds like there are a LOT of really dumb people willing to donate their money to a questionable business venture.
  • 1 0
 Average investment of £530, hmmmmmm.....
  • 1 0
 All I have to look at is Super Troopers vs Super Troopers 2. Super Troopers is a classic and was funding through normal methods, while Super Troopers 2 went the crowd funding route and look at the end product Smile .
  • 1 0
 I notice there have been changes at board level in the company including the ending of 1 or more directors involvement according to their companies house regulatory submissions
  • 3 0
 how much does their am/enduro frame cost?
  • 6 1
 Approx. $4 US dollars. I looked into it and they sent me a full pricing sheet
  • 3 4
 $3720 USD. Actually not too bad.
  • 4 0
 @hamncheez: I was pricing with a Float X2. At today's rate, $3846.
  • 2 0
 @bman33: Still less than a Yeti or even some hand welded ti hard tails
  • 7 4
 @hamncheez: very true. Not sure why I got a down vote from my original pricing where I said 'approx', guess some folks don't like numbers? Haha. Back to your Yeti comment, I would rather pay $3846 for an Atherton frame before I drop it on a Yeti made in Vietnam or similar for sure.
  • 3 0
 @bman33: you meant $4,000, but that wasn't clear. Most people probably thought you were joking
  • 3 1
 @hamncheez: Yep....so goes the PB comment circus
  • 2 0
 Bad timing to ask me to buy into a company who's investment decisions will be handled by a reality tv personality....
  • 7 8
 Sounds like people can't read or think critically. So far, in my opinion... Atherton has done everything right. They've sold everything they've made... took it very slow and have obviously been very careful with the way they're doing things and have created an enormous amount of built up pressure for people to buy these bikes. They haven't even marketed them of offered them up for mass sales... yet look at how many people are tripping over themselves to comment on this article!! Once they feel comfortable being able to offer web sales.. shits going through the roof. A British designed and manufactured bike designed and tested by some of the best British racers... half the population of British mtb'rs will be creaming their pants to get one of these once they're easy to buy.

Also, people seem to have missed this line - "Our initial Angel investment round was so successful that we had to close it early to save enough shares for the mountain bike community, something we were all unanimous on..." Ok, so they do have access to a shitload of capital should they want or need it. For angel investors to be tripping over themselves to give you money after they've fully vetted the company, and it's financial and business plan, means Atherton is doing things right and are so far very successful at it... despite what a bunch of armchair pinkbike commenters might think.

Ha, if I wasn't Canadian I'd get in on this... this company has nothing but success written all over it. Good on you Atherton, take your time, do it right and do it well.
  • 5 0
 @nvranka: and they have done all their R&D (as Atherton) in full glare of the public. Some people have not read the article correctly or understand how the Athertons want to operate their business. If you don't want to invest... Brilliant. I remember when we laughed at my Dad buying some shares in an online book company...
  • 2 2
 Its not taken off. Hence asking a crowdfunder
  • 4 0
 @sacalobra: Only because they haven't allowed it to. Again, if you read the article... they don't need to do a crowdfunding, they could get the cash from investors in order to scale, but they planned and want buy-in from the mtb community. They don't have to do this, they want to and there is a shitload of pent up demand. It will take off when they're ready.
  • 1 0
 I don't know much about the bike industry. What is the normal life cycle of a bike start up? Are they likely to get acquired or go public?
  • 3 0
 Should have named it AFTERDAWN bikes...no?
  • 1 0
 I love watching the Atherton's ride and have REALLY loved Gee's World Cup course previews. That said, you'd probably be better off giving your money to Bernie Madoff
  • 3 0
 Wow, never seen so many Warren Buffetts in one comments thread.
  • 1 0
 I could have sworn the way this is suppose to work is if you have a really good idea that looks like it will make money, you get a business loan.
  • 1 0
 There is no way its "supposed" to work. There are generally two way to fund/finance a growing business and they are debt or equity, each with its own set of trade offs. If you want to keep full ownership of your company you can get a loan, but that comes with a cost of interest which can become very burdensome on a company with little cash flow early on.

Which is why most start ups go for equity financing. It's lower risk and you can generally raise for more capital. With debt the lender has limited upside and can only make profits up to the interest rate of the loan which is why they aren't going to loan a start up that much cash without collateral. The upside is much greater for someone making an equity investment in the company so that can bring in much more capital than a loan.
  • 3 1
 Shark Tank? That would be so cool!
  • 20 2
 can u imagine? explaining $4000 usd squishy bike frames to people who dont mountain bike and then following up with we have sold 50 bikes in 2 years and need $700000. would be the fastest no in the history of shark tank.
  • 2 0
 Would we see Atherton bikes on QVC?
  • 5 0
 @cmitchell: Did you even read the post? One of their early investors is Piers Linney, who is one of the "sharks" on the British version of Shark Tank.
  • 4 0
 @cmitchell: Piers Linney, the main investor, was an investor on Dragons Den, which is the UK equivalent of Shark Tank, so maybe not the fastest no...
  • 2 0
 Bummer. Was hoping this would actually work.
  • 5 3
 No... especially after how seeing they perform at a world Cup level
  • 7 0
 They should take the lesson from Tomac Bikes. JT had the name and stats, but not the business savvy and as he said himself - once his name started to fade from the brand (new kids coming in), no one cared if it was a Tomac or not. The MTB market is flooded with bikes. I like Gee and all, but I think they'll lose their shirts on this venture. And to be honest - Gee's poor results don't help the marketing any.
  • 3 0
 @neimbc: exactly. Gee is definitely starting to slow down now and there are new kids on the block, take for example commencal which have a tonne of young riders promoting their brand. I don't think it helps either that we rarely see Gee now on the live feed in finals which would promote the brand. Hopefully with Rachel racing again next year and Charlie Hatton riding for them it will help a little bit.
  • 5 3
 Think I'll stick with Canfield for now thank you
  • 3 2
 They could hire a designer for way less. With bikes not looking like balls, they might be able to start selling some.
  • 1 0
 Go through extra steps to get an IPO in the works. Will make everyone feel better abkut it.
  • 1 0
 Sounds to me like they want funding for a few new diggers for Dyfi bike park
  • 2 0
 All they need to do is stfu and start producing frames
  • 1 0
 Crowdcube...a nebulous idea, lol, the fact is this is a better business tactic than a rip off bank loan.
  • 3 1
 Maybe they should have just done a clothing line...
  • 2 1
 atleast get a good brand name first, atherton bikes sounds arcane, outside of DH racing circles no one heard of them
  • 1 0
 Chances are they will very well exceed their funding goal by a huge margin.
  • 1 0
 According to the stats on Crowdcube, the largest investment is £104,584. Nice!
  • 1 0
 How to turn a dream of a lifetime into a monkey for your back instead of money for your bike
  • 1 0
 Sounds like they are fizzling out if they have to ask for money from the end user
  • 1 0
 Can somebody remind me what's different/better about their bikes again?
  • 3 0
 @flymiamibro22: Dave Weagle is the suspension designer and you can/should get at least semi-custom geometry.
  • 1 0
 Custom geometry, you can spec almost any measurement you want for every part/angle of the frame within reason.
DW6 link is likely to be a good design if my experience on Evil bikes (earlier DW links) is a good yard-stick.

Edit: Pretty much as per DHhacks comment
  • 2 0
 @Shiny-side-up I don't get it: I can buy a hoodie,t shirt and what not, but there's not a single bike or frame for sale online, don't even know how much one would cost.Its been what now?A year?Apart from their close circle or DH team are there any real bikes out there already?The novelty effect is running out.
I like the concept and have a thing for "different' but would be nice to put a price on customisacion .Wish them luck but don't get good vibes.
They could at least produce that cool Titanium BMX creation from Dan and would probably sell quite a few.
  • 1 0
 @miguelcurto: Yeah i have reached my bike # limit so haven't even checked availability, not even interested in one of these either to be honest. Just answering the person above what might differentiate these from other bikes on the market.
  • 1 0
 O.P.M. other peoples money,
  • 1 0
 So lf i give you $100 of my hard earned money what will l get?
  • 2 0
 A beautifully designed, additive engineered piece of sculptural art... seat post clamp.
  • 3 0
 a picture of a valve cap
  • 3 5
 The first thing they need to do is change the name of the bike. It’s so f****ing cringe “Atherton bikes”. The bike looks sick and I would have one if it wasn’t plastered in Atherton Bike stickers ????
  • 3 1
 I get what you mean, but at some point the person(s) become seperate to the brand image. Hasn’t done commencal or stanton any harm?
  • 1 0
 Agreed. Robot Bike Co was a great name.
  • 1 0
 Good luck. Slow and steady wins the race
  • 2 1
 The thing is no one wants to own an Atherton bike.
  • 1 0
 Yup, they are going the Elon Musk route of scamming investors... great.
  • 1 0
 The truth is they already reach the £600.000 fund and still increasing.
  • 2 0
 aaaannnd.... its gone.
  • 1 0
 A bit sad that no one from US, Canada or Japan can invest.
  • 1 0
 How much for a pint of Gee's bathwater? Asking for a friend.
  • 1 0
 I don't even have the money to not buy an Atherton bike now
  • 1 1
 You would be as well starting your own bike company if you want risk
  • 1 1
 Them bikes actually looks good.
  • 2 1
 Bad looking bikes IMO
  • 1 1
 Cheeky bastards. Get a remortgage
  • 1 0
 £750,000 raised
  • 1 1
 No thanks. My Commencal goes just fine.
  • 1 1
 .....
  • 1 1
 Wow
  • 6 7
 ugly ass bikes

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