Posts Tagged Best Buy
According to a Form D (Notice of Exempt Filing of Securities) filed with the Securities and Exchange Commission this week, Brammo has secured another $5.2 million in last year’s $30 million offering of Series B funding. See prior posts on this: Brammo News: Sounds like KA-CHING and Brammo Private Offering – Who’s Who. Back then, the offering had $12 million in subscribers and was looking for another $17 million to round out the series. Those figures have swapped positions as of this week, showing some progress toward closing out the funding. Other than the change in those figures, there are no other notable changes between last year’s Form D and the current one.
Under the “Related Persons” of the form are the following individuals, listed as Directors:
Craig Bramscher, (also listed as Executive Officer), the CEO of Brammo.
Kuk Yi is a Vice President at Best Buy and is also a Managing Partner at Best Buy Capital. Best Buy Capital, the Venture Capital arm of Best Buy, was a major part of the $10 million Series A offering Brammo received in 2008.
Brian Wawro is the Senior Vice President of Investments at Chrysalix Energy, the other VC fund that provided a sizable chunk of Brammo’s 2008 funding.
Bruce Gilpin is the Chief Financial Officer of Brammo.
David Kurtz - According to Sustainable Business Oregon, Kurtz is with Alpine Inc., an oil and gas investment firm out of Oklahoma.
We reported on the partnership between Brammo and Scuderia West in February, but apparently the official announcement did not happen until today. Scuderia (official) joins Hollywood Electrics (unofficial) as Brammo dealers for San Francisco and Los Angeles, respectively.
I’m an ‘elephant in the room’ kind of guy, so I’ll say it here: The absence of any mention of Best Buy in the press release is noteworthy. Just my humble opinion, but it seems like it is time for the two organizations to go their separate ways. The idea of selling Brammo electric motorcycles in Best Buy represented a really gutsy move for both, and it certainly caused a lot of hoopla and attention when it happened back in 2009. Brammo has always focused on the “Enertia is consumer electronics on wheels” angle, and it made sense to sell something so unique at an electronics behemoth like Best Buy. The struggle Best Buy faced with getting its stores through the maze of red tape required when it tried to add “motorcycle dealer” to its repertoire may have seemed like a bump in the road at the time, but it apparently was the beginning of a rift between the two organizations.
Best Buy may not have predicted the cost and time involved with getting its stores approved by state and local licensing and zoning authorities prior to committing to sell Brammos alongside its offerings of electric bicycles. What once had been announced as a nationwide rollout of Brammos, soon turned into “just a few markets” and then, just the existing stores – three in California and one in Oregon.
Did the initial stumble with the zoning and licensing boards cause Best Buy to pull back and not fully commit to Brammo, or were there other reasons involved? We may never know the answer to that question, but the writing is on the wall as Brammo publicly announces the “change in distribution” and “Brammo motorcycles previously sold through stores” in the press release. Brammo’s shift to a new dealership model with shops that will bring years of experience with motorcycles to the table, is, I think, a change for the better for Brammo. No more “Geek Squad” baggage to deal with is a good thing.
Brammo Launches Its New Dealer Program with the Appointment of Scuderia West as Their Main Dealer for the San Francisco Bay Area
The appointment of Scuderia West as a new Brammo dealer in San Francisco will ensure that Bay Area customers now have easy access to the Brammo range of electric motorcycles.
The American manufacturer Brammo has partnered with this well-established motorcycle dealer on Duboce Avenue, San Francisco. Scuderia West has built up an enviable reputation over 20 years for its high levels of servicing, repairs and parts sourcing for both new and used motorcycles.
Established in 1991, Scuderia’s current facilities include a comprehensive showroom, sales and aftersales department, and full servicing facilities with workshops featuring the latest electronic diagnostic equipment.
“We are delighted to be the first motorcycle dealership to sign up with Brammo,” said Scuderia’s founder and owner, Don Lemelin. “Typically, our customers appreciate a motorcycle that is both well designed and performs flawlessly. Thanks to Brammo’s superior engineering and quality we know we can stake our reputation on these motorcycles.”
Brammo prices start at $7,995 less federal and state incentives for the entry-level Enertia, and rise to $13,995 for the top-of-the-line Empulse 10.0.
Commenting on this latest appointment, CEO of Brammo Inc., Craig Bramscher, added: “Brammo’s share of the US market is soaring and we have no doubt that the Bay Area appreciates the benefits of Brammo electric motorcycles. Scuderia West is becoming a Brammo Dealer at a very exciting time and we both look forward to providing Bay Area riders with world-class products and service. Brammo’s soon to be announced expanded product line is a great fit with the traditional high end motorcycle dealer and with Scuderia, we are off to a great start.”
Located at 69 Duboce Avenue, San Francisco, Scuderia West is open Tuesday through Saturday, 9am until 6pm.
Brammo’s change in distribution will also benefit existing customers as all servicing and warranty of Brammo motorcycles previously sold through stores will be honored by Brammo’s new dealership network.
“We are always interested to talk with dealers about our exciting motorcycles and explore the opportunity of becoming a Brammo dealer,” said Craig Bramscher.
Brammo Inc. is a leading electric vehicle technology company headquartered in North America. Brammo designs and develops electric vehicles including the award winning Brammo Enertia motorcycle. Brammo is an OEM supplier of its innovative Brammo Digital Drivetrain™ systems including the Brammo Power™ battery pack and Brammo Power™ vehicle management system. Brammo has vehicle distribution and marketing operations in North America, Europe and Asia
Time to count ‘em down, folks. These are, in my fair and balanced opinion, the top ten Brammo stories of 2010, in reverse order, of course:
10. Brammo Enertia wins the Edison award for “Best New Product: Transportation.”
9. Ali Afshar and ESX Motorsports starts showing off the Brammo Enertia at Malibu’s “Rock Store,” Bob’s Big Boy, and the Power Rangers convention. Ali – ESX, weekly rides and Power Rangers.
8. Brammo branches out of the Best Buy marketplace, looking for dealers, and finding at least one: Hollywood Electrics. See: Dealership development director solicitation and the Hollywood Electrics story. (There would have been at least an Honorable Mention for the Brammo Enertia Appears on BestBuy.com story, but for the unfortunate attempted buying experience story).
7. The Hong Kong Police test a fleet of Brammo Enertias.
6. Main stream media cover Brammo and some even call it the “Best Electric Motorcycle of 2010.” See, also, Cycle World review, Popular Mechanics , Entrepreneur, National Geographic (not on the site, yet), CNBC Power Lunch – one of the best products of 2010, and too many more to list here.
5. Jackie Chan and his company, JCAM, team with Brammo to introduce the motorcycles to Asia and to an upcoming Jackie Chan movie. And, basically, the world gets to see the Brammo bikes at EICMA in Milan and at the Hong Kong Motorcycle show.
4. Brammo announces the partnership with Flextronics to produce electric motorcycles around the world.
2. Brammo unveils the Brammo Enertia Plus with Double the range.
And finally, the top story in my opinion, of 2010:
1. Brammo announces the Empulse – 100 mph, 100 mile range, naked streetfighter.
Some honorable mentions:
Voyage of Rob Novey, and the (hopefully) soon-to-be-published book of Zen and the Art of Electric Motorcycle Maintenance.
It looks like I’m not the only one putting together a list of the great year Brammo has had. Click here to see their 2010 Christmas Card with a slide show that includes many of the stories, above.
Just a couple pictures, today, of Jackie Chan admiring the Brammo TTR race bike and the Brammo Empulse.
Captions? Put ‘em in the comments. Challenge: No “Rush Hour” references. And yes, those appear to be sunglasses, not some sort of orthodontic headgear.
Enjoy some of the photos of the Brammo spokesmodels trickling in from the JCAM crew at the Macau Grand Prix. Will update with more pictures as they arrive.