Colorado-based bike reseller The Pro’s Closet has merged with Santa Fe, New Mexico-based The Radavist, aiming to grow its editorial presence and reach additional customers in the cycling community.
Since launching media outlet The Radavist in 2006, Founder and Editor John Watson and Lead Designer Cari Carmean have developed a loyal following in the cycling space, offering race reports, product reviews and much more.
The merger comes at a key time for The Pro’s Closet, as a cycling revival spurred by the pandemic has led to massive growth for the business.
The company, which buys and sells pre-owned bicycles, recently moved into a new facility in Louisville to accommodate its growth and brought on a $40 million Series B funding round in May, led by The Chernin Group with participation from existing investors Foundry Group, Edison Partners and Ridgeline.
The strategic merger was made with an eye toward further engaging with The Pro’s Closet’s existing customers and introducing it to potential new ones.
“Their team has a deep appreciation for The Radavist's content and perspective, and wanted to help more cyclists connect with that content, while also using it as a conduit to TPC's retail platform,” a company spokesperson told DBJ.
For The Radavist, the merger and financial backing enables the two-person company to expand its offerings. The website will remain free and without a paywall, but Watson said it will now broaden its coverage.
“We'll have more funding to do stories and to pay the hardworking, talented individuals who brought such diverse opinions and thoughtful pieces to the pages of this website. Projects I've had in my notes will finally see the light of day,” he wrote in a blog post.
The Pro’s Closet now has about 100 total employees and will be hiring additional staff to support the combined company.
“We love The Radavist. We’re long-time readers and The Radavist ethos is directly aligned with ours,” said TPC CEO John Levisay in a statement. “John and Cari inspire millions of people to love bikes, respect the land, and go on adventures. We’re very excited to welcome them, their contributors, and The Radavist community into The Pro’s Closet family and to be a part of the expansion of the site.”
This merger follows a newly created trend of media and retail consolidation as a way to attract new customers. In February, well-known watch media company HODINKEE acquired e-commerce timepiece company Crown & Caliber to further build its brand.
The Pro’s Closet, which was founded in 2006 and operated exclusively on eBay until 2017, has said that it aims to become the most trusted retailer in the secondary bicycle market. The company purchases new and pre-owned bikes and accessories from manufacturers, retailers and individuals, and then gives them a certified pre-owned inspection and service before listing them for sale.
