Matthew Connelley

Matthew Connelley is the Founder and CEO of Cycle Exchange, a company he started in July 2013.1 Cycle Exchange is a platform specializing in buying, selling, and exchanging premium used bikes, with a particular focus on high-end road bicycles.1

Career and Company Background

Connelley founded Cycle Exchange as a part-time side business, initially operating out of a storage unit with just e-commerce.1 The company has since grown significantly:

• In 2019, Cycle Exchange moved to its long-term home, expanding operations.1
• The business now includes a significant warehouse operation.1
• Cycle Exchange has partnerships with professional cycling teams like Ineos Grenadiers and Team DSM.1

Business Model and Growth

Under Connelley's leadership, Cycle Exchange has implemented several innovative strategies:

• Free home collection service: This has been described by Connelley as a "complete game changer" for their business model.1
• Buy-back guarantee: This feature caters to customers who frequently upgrade their bikes.1
• Newsletter: The company maintains a mailing list of around 40,000 people.1

Cycle Exchange has shown consistent growth, with Connelley reporting that the company was on track to achieve approximately 20% growth in the year of the interview.1

Recent Developments

In 2024, Connelley led Cycle Exchange into a partnership with Sigma Sports, a specialist cycling retailer. This collaboration introduced a new Part Exchange tool, allowing customers to quickly value and trade in their old bikes when purchasing new ones.2

Matthew Connelley continues to serve as the Founder and Managing Director of Cycle Exchange, steering the company's growth and innovations in the premium used bike market.3