[Social Bicycles in Crain’s New York Business] Deep-pocketed investors are backing dockless cycles that could challenge Citi Bike

He developed the industry’s first GPS-enabled bike with an integrated lock, competed for the city contract that Alta Bicycle Share won to launch Citi Bike, took his operation to the West Coast instead and now supplies bike-sharing services in more than 30 locations around the world. Last year his Brooklyn-based Social Bicycles, known as SoBi, turned a profit on $10 million in revenue.

Read more on Crain’s New York Business here.