For this week's keep reinventing segment brought to you by HP we are taking a look at a new bike share player in the space. Zagster recently closed a $15 million round of funding, which it plans to use to expand its dockless program to new cities. The company's CEO Timothy Ericson explains how he is taking a conservative approach to the expansion efforts.
"Right now we are really focusing on bring our bikeshare program Pace to communities who are willing to invest in bikesharing in the right way," says Ericson. "This allows riders to pick up and drop off bikes anywhere in the city."
Ericson says Zagster works directly with communities to roll out its program, and integrate it with the transit program. Zagster partners include Princeton University, City of Rochester, and Roanoke.
Investors weren't jolted by the downgrade because they already know the fractured state of U.S. politics, the size of the country's public debt, and the challenges it faces to pay for Social Security, Medicare and other expenses.
The national average for gas prices stood at about $3.78 a gallon on Tuesday — about 25 cents higher than that seen one month ago, according to motor club AAA. While today's prices at the pump remain far lower than they were last year, when energy costs soared worldwide in the months following Russia's invasion of Ukraine, experts say such a jump is unusual.
