From an idea that started in a garage, BikeExchange has grown into a global enterprise
BikeExchange is the global marketplace for everything bike. Users access one online destination to buy and sell bikes and bike parts, read premium cycling content including advice and reviews from its global community.
Over its ten years, what started as a classified marketplace, has evolved into many things in one destination, delivering access to the cycling community via a curated range of products with discounts and special events for its members.
Multiple additional revenue streams have now opened up thanks to the flexibility of the Marketplacer platform. Apart from a commission on sales, revenue is generated via a range of means including ad space, retailer membership subscriptions and data and insights.
Ten years ago, there were more people buying bikes than cars in Australia. A need clearly existed for a classified cycling marketplace, where customers could search through the more than 800 brands available at the time. Thus the idea for BikeExchange first came about.
But rather than just creating a classified market, the vision was to create one online destination to provide service information, products and parts with the ultimate goal of becoming the place to buy and sell everything bike – to transform the experience of buying a bicycle or cycling gear.
To do this, BikeExchange would need to bring together customers with private sellers and bike retailers globally, and also offer them quality cycling content to build a sense of trust and community.
In addition to bringing together sellers and buyers of everything in the cycling world, BikeExchange has leveraged the Marketplacer revenue modules and introduced new revenue streams over a 10 year period. With more than 500,000 products for sale and an annual audience of 35 million, BikeExchange is now considered the world’s largest bike marketplace.
Bike Exchange success
When BE acquired CyclingTips, the premium editorial website that celebrates the beauty of road cycling, it opened up access to a community of 30 million global cyclists through CyclingTips’ unique Velo Club, granting members access to premium content, members’ events, loyalty rewards, forums, group rides and exclusive discounts.
“We’ve packed it with features, including customised solutions to monetise your tribe, business and customer relationship management system, global scalability and advanced analytics and reporting. There’s even a customisable blog and content centre. We did this because we wanted to share our success so that other entrepreneurs and businesses can scale their marketplace vision, and not have to keep reinventing the wheel.”