Can a Canadian Furniture Magnate Save Citi Bike?

Citi Bikes docked in NYC. (SLGCKGC / FLICKR)

Citi Bikes docked in NYC. (SLGCKGC / FLICKR)

Given the past few weeks of Citi Bike news, the events that played out over last weekend shouldn’t come as a surprise. But, alas, they do. Bixi— the bankrupt Montreal company behind Citi Bike‘s glitchy equipment—was purchased by, who else, a Canadian furniture magnate named Bruno Rodi. Yes, the man whose company sells living-room furniture and bills itself as the “spécialiste du sofa” will himself become the “spécialiste du vélo.”

Rodi’s winning offer of about $3.6 million (US) was around $1.4 million less than a bid put together by Related and Equinox Fitness. But the higher offer was dismissed by a judge who ruled that it missed the deadline and didn’t include the minimum deposit.

So, what does Rodi plan to do with Bixi? That’s hard to answer because he’s not currently talking to the press. He’s busy sailing around the Indian Ocean at the moment. Why? Because he’s a world traveler, that’s why. He’s reportedly sailed every sea and visited nearly every World Heritage Site. And one time, he rode his bike along the entire route of the Tour de France.

As problems mount for Citi Bike, the people at CitiGroup are pretty darn satisfied with their involvement in the program. Citi’s head of creative and media for North America marketing, Elyssa Gray, recently said they’re already seeing returns on their initial investment.

[h/t The Atlantic Cities.]

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