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Beeline Bikes Announces Financing from Backcountry

Beeline Bikes, The Mobile Bike Shop, today announced that it closed a $2.6M Series A financing round led by Backcountry.com, LLC ("Backcountry"), one of the largest online specialty retailers of outdoor gear and apparel and operator of Competitive Cyclist. With the investment, Beeline Bikes will expand its fleet of "We Come to You" mobile bike shops across the United States using a franchise model, and continue to provide a convenient, customer-friendly channel in the bicycle industry.

Beeline Bikes Announces Financing from Backcountry

Expanding Network of Mobile Bike Shops Nationwide

Beeline Bikes has quickly grown in the San Francisco Bay Area to support many thousands of customers at their homes and at over 100 corporate locations. The Mobile Bike Shop provides a full retail experience and establishes a one-to-one mechanic to customer interaction. Beeline has developed the technology platform, support infrastructure and comprehensive supply chain to enable independent mechanic franchisees to run their own mobile bike shop and delight each customer.

Backcountry is the established e-commerce leader in outdoor sports with a strong position in the bike industry. "We are thrilled to have the support of Backcountry with its compelling brand and passionate customers," said Pete Buhl, Co-Founder and CEO of Beeline Bikes. "We look forward to partnering with Backcountry to innovate the bike-buying experience by marrying a dynamic online presence with professional in-person service. We are reaching a seminal time when the convergence of technology, commerce, and the customer's increasing expectation of convenience provides a unique opportunity for a new business model."

"Beeline Bikes provides an amazing customer experience and has built their business to scale globally," said Jill Layfield, CEO of Backcountry. "By bringing the bike shop directly to the customer, Beeline Bikes is offering the ultimate in convenience. We are extremely excited about this announcement and look forward to collaborating with Beeline Bikes as they continue to grow."

The Beeline model represents a departure from that of a traditional bike shop in that it focuses on empowering the mechanic. "Our model was designed with mechanics in mind," said Neil Macc, VP of Operations. "Having worked in the bike industry for over 16 years it's exciting to deliver a model that values a mechanic's expertise, allows them to participate in the economics of product sales, and provides them the opportunity to build a long-term relationship with the customer. Now mechanic franchisees can build a financially rewarding business in the industry they are passionate about."

Beeline Bikes is currently offering franchises across the USA. Interested franchisees are invited to participate in "Discovery Day" at Beeline's Headquarters in San Carlos, CA. For more information, visit beelinebikes.com/franchise or contact franchise@beelinebikes.com.

About Beeline Bikes:

Beeline Bikes is leading the #1 trend in the bicycle industry - the Mobile Bike Shop. By enabling customers to schedule a visit at the time and location of their choosing, Beeline is reinventing how people interact with bike shops by providing the ultimate in customer convenience. For more information, please visit beelinebikes.com.

About Backcountry:

Backcountry is the largest online specialty retailer of premium outdoor gear. The quality and breadth of our products, the knowledge and empowered service of our Gearheads, the lightning-fast speed of our fulfillment, and the shared gear knowledge of our community enable our customer's passions outside. With six specialty stores: Backcountry.com, CompetitiveCyclist.com, MotoSport.com, Bergfreunde.de, SteepandCheap.com, and WhiskeyMilitia.com, we have the gear for your next adventure. Since 1996, Backcountry has been connecting people to their passions. For more information, please visit www.backcountrycorp.com.

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