Zwift has released a statement confirming that is scaling back its plans to launch a smart bike. Citing ‘turbulent times’ economically across the world, the company has also laid off a number of staff.
Zwift’s statement noted that…
‘Given the current macroeconomic environment, we have decided to scale back our hardware offering, pausing plans to launch a smart bike. As a consequence, Zwift has implemented difficult, yet important changes to the organisation of the business. We are grateful for the contributions of all those impacted and have done our very best to support them.
‘We are committed to increasing the development of the core Zwift game experience, increasing the speed of new feature releases, and making the platform more accessible than ever before.
‘We firmly believe these changes will allow us to achieve these goals and better support the continued growth of our subscription business. Further, these changes will preserve Zwift’s strong financial position as the world navigates these turbulent times.’
A full article exploring this latest development can be found on the DC Rainmaker site.
