From Dishwasher to IPO: The American Dream of Fly's Founder

Ou, a Fujianese immigrant, pursued the American dream, working his way up from dishwasher and motorcycle repairman to founding the e-bike company Fly. He shrewdly identified the need for affordable e-bikes among New York delivery workers, rapidly building brand recognition by opening physical stores throughout the city, and experiencing explosive growth during the COVID-19 pandemic. In fiscal year 2023, Fly generated $32 million in revenue, with profits tripling, culminating in a successful IPO. Ou achieved financial success, but his rapid expansion has also raised concerns about risks within the industry.