Drexel pair's business model runs on pedal power

Tim Goral's picture
Monday, July 1, 2013

Outside the front entrance of the Hyatt Regency Philadelphia at Penn's Landing, Timothy Ericson was surrounded by options for getting around.

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But Ericson's transportation focus this day sat parked at his feet: four bicycles. The 2009 Drexel University grad hopes they will help his company, Zagster, become a nationwide bike-sharing provider to the private sector. Zagster's market is not the general public, unlike typical city bike-sharing initiatives - such as the one Mayor Nutter has vowed will be ready to roll next year in Philadelphia. Zagster is more niche-oriented - it wants to put hotel guests, apartment dwellers, college staff and students, and office-park workers behind the handlebars of its two-wheel cruisers, managed through a high-tech reservation-and-security system.

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