EVELO Electric Bikes

EVELO Electric Bicycles operates as a developer and direct-to-consumer distributor of electric bicycles, focusing on the US market to ensure a high level of customer service. The company was founded in 2011 by brothers Boris and Yevgeniy Mordkovich, who previously ran and sold another company, using the proceeds to start EVELO. Their mission is to make cycling accessible and enjoyable for a wider audience, regardless of age or fitness level. Boris Mordkovich, the CEO, has a background in marketing and operations and previously founded Search Marketing Standard, a monthly magazine publisher, which he sold in 2009. Yevgeniy Mordkovich serves as the COO, overseeing the supply chain and logistics. The company began with an initial investment of about $100,000 and grew organically, reaching approximately $2 million in revenue before seeking outside investment.

The business model is centered around online, direct-to-consumer sales via the company's website, which eliminates traditional retail markups and allows EVELO to control the entire customer experience. This approach is complemented by a network of brand Ambassadors who provide personalized service to customers. EVELO generates revenue through the sale of its electric bikes and accessories. The company's first sale was recorded on March 6, 2012, and a significant milestone occurred that same year when co-founder Boris Mordkovich led a 4,000-mile Trans-American Electric Bike Tour to test new models. Initially based in New York, the company later relocated its operations to the Seattle, Washington area, eventually closing a retail storefront to focus exclusively on its direct-to-consumer strategy.

EVELO's product line is distinguished by its use of mid-drive motors, which provide better weight distribution and a more natural riding feel compared to more common hub motors. A key technological feature across many models is the Enviolo Continuously Variable Transmission (CVT), a sealed, maintenance-free system that allows for seamless shifting without the distinct steps of traditional gears. Some models even offer the Enviolo Automatiq system, which shifts gears automatically based on the rider's preferred pedaling speed (cadence), which can be set via a smartphone app. The company also utilizes Gates Carbon Belt Drives, which are quieter and require less maintenance than traditional bike chains. Product offerings include a variety of models to suit different needs, such as folding bikes (Dash), tricycles for stability (Compass), and comfort cruisers (Omega, Atlas). In 2015, the company also launched the Omni Wheel, an all-in-one front wheel kit containing the motor, battery, and electronics, allowing users to convert a conventional bicycle into an electric one. Keywords: EVELO, Boris Mordkovich, Yevgeniy Mordkovich, electric bicycles, e-bikes, direct-to-consumer, mid-drive motor, Enviolo CVT, automatic shifting e-bike, Gates Carbon Belt Drive, step-through bicycles, electric tricycle, Omni Wheel, online bike sales, US e-bike market, e-bike technology, NuVinci, commuter e-bike, recreational e-bike, Seattle bicycles, D2C e-commerce