Name: Chinese Bike-Sharing Giant Plans To Expand To Half a Billion Users
Uploaded: 2017-12-05
Duration: 5 min 5 s
Description: In the next six or seven months

In the United States last year, the bike- sharing association for all the cities in the United States, even thought the U- S has been doing bike- sharing since, really, the mid 90s, they were bragging about having 30 million rides on bikes shared in all U- S cities for the entire year. Davis, tell me how many Rides do you do in a day? Right now it's slightly behind the number of 30 million because right now the winter is coming. [ LAUGH ] Winter is coming, so you're down a little bit? Yeah. So you're clocking in a single day what every city in America does in bike sharing Just in a 24 hour period, give us some of the other metrics that are kind of amazing about where you are in terms of number of users and that sort of thing. Yeah I think the amazing Mobid is trying to serve the needs of the last [ INAUDIBLE ] for all the big cities worldwide So last time when we made, we just start the global expansion. And right now, we are in 12 countries already including China. And total number of cities worldwide, we have achieved 200. 200? Yeah. Yep. So, since. Since we met last time we add new cities including Rotterdam from Holland, Berlin from Germany and Turin from Italy, Washington DC, Sydney, etc ., etc. So we are trying to provide a connected [ INAUDIBLE ] trying to provide these community services to. The people who leaving the [ UNKNOWN ] say well why to have the air push and also solve a little bit the traffic congestion. That's extrodinary roll out in a very short space of time. Where do you expect to be by say the middle of next year? Have you got a plan for how many Overseas cities you have [ INAUDIBLE ] further. > So, we announced a World Recycling Day back to Septmeber 17th by working together with United Nations which means we are trying to persue more people from out of countries world wide to ride a bicycle. And I'm hoping to have, let's say, half billion people to [ UNKNOWN ] right now we have already 200 million, so which means we are going to [ UNKNOWN ] another 300 million people to ride the bus [ UNKNOWN ] in the coming six, seven months. Wow that's extraordinary. And Of course, fueling this expansion is a pretty serious, sounds adventure capital money. Both you and your main competitor have raised about a billion dollars. Money is important. Money is important. But vision is even more important. [ LAUGH ] True. All right, well, I wanna hear about your vision but let's turn next to Sam. Now, Sam, I told you that I was gonna give Davis bragging rights first. And so if you could top that. why don't you run us through your metrics a little bit and what what you are up is this model does. How many people here are familiar with Get around? I love the name of this company by the way because its exactly what we are talking about, how people get around and how that's changing. Your idea is to, it's not Uber like, it's slightly different. Explain to us how it's different. Yeah sure. It's esentially a consumer- to- consumer marketplace. And we enable everyday people to rent their cars out. So you can rent somebody else's car. And we make the process very seamless. So you just download our app. You put in your driver license, credit card, and you can instantly rent someone else's car, locate the car, unlock the door, start everything from the phone and go. That's the driver, the user of the car. That's right. That's the renter, who ends up being the driver of the vehicle. Correct, yeah. And I said we provide insurance with every trip so if the ball parties are covered for comprehensive and liability coverage and I guess a little bit of background on the company. We've started a number of years ago, probably, actually before [ UNKNOWN ] Originally launched in 2011 and really launched our hardware enabled model in 2014. Very focused on the San Francisco market and sort of convincing consumers that renting out their $ 30, 000 asset was a good idea. I managed to become, by far, the largest Car servicing provider in the San Fransisco Bay area and then have since expanded to 14 cities across the United States in the past 18 months. We're adding another 24 cities in the coming 24 months. And, I don't know, in terms of metrics we, I think last year Had about just shy of 10 million hours booked through our platform. [ BLANK_AUDIO ]