Vene Rides

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Security Type
Crowd SAFE
Categories
Retail, Consumer Goods & Products, Technology, Transportation & Storage
Min Investment
$100
Location
MIAMI BEACH, FL
Offering Date
October 20, 2021
Expected Close Date
February 10, 2022
Target Raise
$25.00K-$1.07M
No. Investors
166
Security Price
$1
Valuation
$10,000,000
Website
venerides.com
Number of Employees
7
Cash
$0
Revenue
$135,959
Short Term Debt
$12,963
Cost of Goods
$70,320
Long Term Debt
$0
Net Income
$-116,798

Company Description

Vene Rides is a new kind of bike shop. Whether online or in-person, consumers can test ride, buy, rent, and service Micro-EVs of all kinds: E-Bikes, E-Scooters, E-Mopeds. Our product experts curate a selection of Micro-EVs from top brands, with a focus on reliability, serviceability, and quality. Vene Rides also sells subscription transportation plans that give riders worry-free access to a quality Micro-EV, for a low monthly cost

Key Deal Facts

Addressing the $43B electric bike and scooter market
Sales, subscriptions, and service for electric bikes and scooters
Executive team with expertise in micromobility
Bootstrapped to date—lean and profitable
$50K per month revenue from first store in Miami Beach as of Feb 2021
$600K projected sales 2021
Planning for growth on a national scale

Management Team / Advisory Board Bios

Josh Squire
Co-Founder & CEO
Created the HOPR mobility platform. Launched & operated 20 shared micro-mobility cities. Founded a recreational rentals & tours chain. Managed bicycle commuting centers. Co-funded a POS software company.

Ruben Figueredo
Co-Founder & COO
Expert in brand partnerships, ecommerce, and bicycle retail operations. Co-founder of a sporting event technology company. Modernizing transportation through Micro-EVs.

Miguel Chocron
President
Miguel has been involved as an entrepreneur in different startups across many industries: social media, hospitality and software development to name a few. He fell in love with micromobility and its impact on communities, transit and the environment.
Amount Raised : $51,609
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Security Description

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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