A reactor design and process for the dehydrogenation of hydrocarbons is presented. The reactor design includes a multibed catalytic reactor, where each of the reactor beds are fluidized. The catalyst in the reactor cascades through the reactor beds, with fresh catalyst input into the first reactor bed, and the spent catalyst withdrawn from the last reactor bed. The hydrocarbon feedstream is input to the reactor beds in a parallel formation, thereby decreasing the thermal residence time of the hydrocarbons when compared with a single bed fluidized reactor, or a series reactor scheme.