Dollaride

Transforming urban transit.

Security Type: Crowd SAFE
Categories: Service Businesses
Min Investment: $100
Location: Brooklyn, NY
Offering Date: July 02, 2020
Expected Close Date: October 05, 2020
Target Raise: $25.00K-$1.07M
Deal Notes: Discount: 20%

Company Description

Dollaride offers a new twist on an old transportation model to ensure that marginalized, outer-city communities have a faster, more convenient commute. We make public transit available to anyone, anywhere by delivering superior transportation starting at only $2 a ride. We do this by merging our technology with the informal network of local commuter van drivers (ie "dollar vans") to meet the growing demand for mobility solutions in transit deserts. Drivers trust Dollaride because our product helps them grow their business by accepting digital payments and expanding to new territory.

Key Deal Facts

341% YoY revenue growth (2019 - 2020 YTD)
200+ drivers on the mobile platform
800+ rides taken | 2K+ riders on the waitlist
Addressing a $4.32B national market
2020 Squarespace #MakeItAward winner
4.8-star rating in Apple app store

Use of Proceeds

Product Development
Operations & Logistics
Sales & Marketing
Equipment

Management Team / Advisory Board Bios

Su Sanni - Founder & CEO
Su is an 8-year tech startup entrepreneur. His passion lies in social impact. In 2012, Su founded WeDidIt, a venture-backed startup that raised $60M online. Dollar van service is a family business that is among the top five largest fleets in NYC.

Chris Coles - Founder & CTO
A seasoned technologist, Chris brings over 7 years of engineering leadership to Dollaride. Chris has consulted the federal government, Forbes, DNAInfo and others. He is passionate about projects that highlight diversity, inclusion and social impact.

Eric Goldwyn - Data Scientist/R&D
Professor Eric Goldwyn is a research scholar at NYU's Marron Institute of Urban Management. He is currently working on a large-scale project mapping unmapped transit networks across the globe. He received a Ph.D. from Columbia University.

Deal Notes

Discount: 20%

Amount Raised : $417,515

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An equity crowdfunding specific version of a SAFE used by crowdfunding portal Republic. Upon conversion (if and when that happens), investors may receive special shares with limited rights that do not show up on a company’s cap table. The issuer may roll over and not convert shares at the next financing round causing investors to lose out on some upside.

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