The Larq Fund – the former majority shareholder of Nextbike – prides itself on having developed a project destined for success. Larq CEO Wojciech Byj indicates that out of 500 bicycles at the start of its business in 2013, the company has earned up to 20,000 bicycles under the former owner. vehicles.
In 2017 it recorded a profit in for an amount of PLN 4.4 million. There is no trace of past successes – after many years of trouble, the company almost went bankrupt and is now undergoing restructuring. As the company’s chairman bitterly admits, the stock market valuation before Nextbike GmbH’s liquidity problems in 2019 fluctuated in the range PLN 80-100 milliontoday slightly exceeds 10 million PLN.
What happened? According to Wojciech Byj, the Polish company’s success has become a victim of the collaborator’s harmful policy. He sees the reasons for his failures in the minority shareholder who had to put logs under his feet from the start. This is the German company Nextbike GmbH, responsible for the supply of technology and equipment for the Polish company.