CAMBRIDGE, Mass. (September 5, 2017) — Zagster, the nation’s leading provider of public and public/private bike share systems, today announced it has strengthened its senior leadership team with the hiring of Nicholas Malone as Chief Financial Officer.
Malone joins Zagster with more than 20 years of experience in finance, management and leadership roles. Most recently, he served as Chief Administrative Officer and Treasurer of Wayfair, a billion-dollar Boston-based e-commerce company. He was also Wayfair’s CFO for more than 8 years, and in 2013, the Boston Business Journal honored Nick with its CFO of the Year Award.
“As Zagster evolves rapidly from a high-growth startup into a national brand, we’re continuing to make investments in our executive team,” said Zagster CEO Timothy Ericson. “Over the last two months we launched an average of nearly three new bike share programs every week — including a milestone program in Rochester, New York, which represents our largest bike share to date. With his proven track record of driving rapid growth as Wayfair’s CFO, Nick is exactly what we wanted in our CFO. I’m confident he’ll prove instrumental in helping us further scale Zagster’s tremendous growth in the coming years.”
Malone joins a leadership team bolstered in recent months by the hiring of several experienced professionals in corporate strategy, marketing, legal, and human resources whose backgrounds include leadership of high-growth companies, publicly-traded enterprises and iconic brands including Zipcar, Spotify and Brightcove.
The expansion of Zagster’s leadership team comes on the heels of a banner year for the company. In 2016, Zagster achieved 300 percent growth in implemented programs; 400 percent growth in deployed bikes; and 300 percent growth in staff. Earlier this year, Zagster closed a $10 Million Series B Round of Funding led by Edison Partners, a leading growth equity capital firm. The company also launched a new mobile app that simplifies and improves the overall user experience for the company’s 100,000 riders nationwide.
Founded in 2007 and headquartered in Cambridge, Mass., Zagster is the largest and fastest-growing bike-share provider in the United States. Zagster operates more than 160 bike share programs in 35 states across North America and specializes in making bike sharing available in areas where traditional bike share providers can't reach. Unlike other programs in which riders must drop off bikes at designated stations for every stop, Zagster’s programs give users the freedom to ride as long as they want, wherever they want. And because Zagster manages all aspects of its programs — from bikes and technology, to maintenance and marketing — Zagster partners can create and deploy scalable bike-share systems that best suit their needs and work within their budgets.
More information about Zagster and its programs can be found at www.zagster.com
Media contact for Zagster
Jon Terbush, Zagster communications manager