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Security Type
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Debt
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Categories
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Technology, Community & Lifestyle
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Min Investment
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$100
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Location
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Long Island City, NY
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Offering Date
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July 14, 2021
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Expected Close Date
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April 29, 2024
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Target Raise
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$50.00K-$2.60M
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Security Price
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$1
- Number of Employees
- 6
- Cash
- $356,781
- Revenue
- $6,109,126
- Short Term Debt
- $139,956
- Cost of Goods
- $5,552,522
- Long Term Debt
- $1,800,213
- Net Income
- $125,912
Company Description
We are a driver-owned ridehailing cooperative in New York City. Drivers make more on each trip, all profits go back to drivers, and drivers have democratic control over the decisions that affect their lives. Our mission is to end exploitative conditions in the for-hire vehicle industry through system change– putting drivers in the driver’s seat of the platform economy.
Key Deal Facts
100% worker-owned
>3,000 drivers recruited to the platform
>30K rider accounts in the app
Over 2,000 completed trips since launch in late May
>$100K in revenue generated
B2B/B2G clients including AOC and the NYC Board of Elections
>10K followers on both Twitter and Instagram
Five-star rating in App and Playstores
Management Team / Advisory Board Bios
New York City Drivers, Co-Founders
Hundreds and now thousands of NYC drivers came together to launch Co-op Ride, a driver-owned ridehailing platform. Before the pandemic, drivers provided 700K+ trips per day for our fellow New Yorkers. We're excited to do it now on a platform we own.
Alissa Orlando, Finance & Business Operations
Former Head of Operations at Uber East Africa, leading two country launches, MD of Rocket Internet food delivery company, Stanford MBA
David Alexis, Community Partnerships
6+ Years Marketing & Brand Management Experience. Community organizer with deep ties in Brooklyn and Queens. Active DSA member and passionate about people power and public health. Uber/Lyft driver for 5+ years.
Amount Raised
:
$1,674,293
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The overall viability and scalability of the business concept as well as the ability to drive the concept to profitability over time.
Business Idea
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Business Traction
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The experience of the management team in running, scaling and/or exiting a business that required similar skills to execute the business plan.
Management Team
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Valuation
Security Description
Debt is something, usually money, borrowed by one party from another. Debt is used by many corporations and individuals to make large purchases that they could not afford under normal circumstances. A debt arrangement gives the borrowing party permission to borrow money under the condition that it is to be paid back at a later date, usually with interest.