Spin is a micromobilty company that operates fleets of rental electric bikes and electric scooters in cities and campuses across the United States and Canada

Spin - Electric Scooter Sharing

I’m talking about the electronic, app-ordered scooters that we’re seeing scattered across the sidewalks of some of the United States more populated cities. More interestingly, let’s use it as an opportunity to parallel — in fairly understandable terms —what it means that technology is exponentially growing, and how that impacts us. We hear all the time about the potential job displacement that will occur because of the advancement of technology. This is true. But conversely — where is the conversation about the jobs created? The new industries created? Twenty years ago — this combination of technology didn’t exist. Why? Twenty years ago the technology used to power these services didn’t exist, and certainly wasn’t being used in combination to create a brand new billion dollar industry. When I was five, scooters existed. They’ve been around for about 200 years, scooters were invented in Germany in 1817. A few decades later (1895) and we see our first motorized scooter, and 1915 is the first large commercial offering of a motorized scooter product. Electric scooters, as the devices that Bird et all use, have been around for decades. Birds are, at their core, scooters. And twenty years ago, just like the previous 180 years, scooters were simply metal [or wood] on wheels. The typical foldable scooter that conjures up thoughts of tech companies and cul-de-sac bbqs became incredibly popular in the United States around 2000, with electric scooters hitting the main stream streets soon after. Naturally, electric scooters first “happened” in Silicone Valley. In 2012 — Scoot Networks launches a scooter-sharing & electric bicycle sharing service in San Francisco. This is the first iteration of the app-based, sharable scooter system. Six years later, the first centrally networked, cellular enabled, electric scooter-sharing app based system hit the San Francisco streets in late 2017, rolling out in Washington DC & Los Angeles right after. Enter Bird, founded in 2017, like competitors, Lime, [2017], Spin [2017] which turned electric scooters into a multi-billion dollar industry essentially overnight. Considered one of, if not the, fastest growing company to hit Unicorn status, Bird created an industry (with hundreds of jobs) that only exists because of innovations created in the last two decades. In year 2019, Bird now operates in over 100 cities around the world, with a 2 billion dollar evaluation, with over 800 people in its employ. Okay, so now let’s back up and talk timeline of some of the technology used for Bird. First, how do electric scooter sharing systems work, in basic? The scooters are managed via a cell-phone app, and there’s a whole team of people that pick them up and charge them, and there’s the actual user usage. For our purposes in this discussion: Download app Locate Scooter Unlock Scooter So, Cell phones were invented in 1973. The first smartphone [with 10 apps] was 1994. 1983 is the creation of the network of networks for the foundation of the internet as we know it, and 1990 gives us the world wide web. We’ve got WiFi, introduced in 1997. Bluetooth came three years prior in 1994. downloading the app. Ok. The scooters themselves are located & tracked via GPS, they’re bluetooth / wifi enabled, so you are going to find that little sucker right there on your nifty cellular device. 1999 gave us GPS in our cellular phones, 2005 for Google Maps, and 2008 before Google Maps is available on cellular devices. Locate Scooter. The U.S government created GPS [global positioning system, in case that was always an acronym for you] in 1973, allowed for us regular folks in the 1980s. This concept obviously doesn’t work unless these companies solicit money for the scooter usage, so the scooters will not function until you’ve paid up and connected to your particular scooter. Some scooter companies unlock via QR code - invented in 1994 to track manufacturing components, but cell-phones with cameras weren’t invented until 2002, and you’re likely doing this with an I-phone or Android [October 2007 & September 2008, respectively]. Apple’s app store was released July, 2008. Unlock Scooter. There are a few other billion dollar companies that have come about based on many of the same technologies. The concept of ride sharing was popularized with the invention and launch of Uber, 2009, with Lyft following in 2012. As another fun comparison — it took Uber 4 years to reach a 1 billion dollar evaluation, with home-sharing app Airbnb [2008] taking 3. Uber also utilizes GPS, WiFi, cell phones, GoogleMaps, to name a few. The technology to create and utilize this system of digitally managed, shared electric scooters came about over the last 40 years, with the majority of the technological inventions happening in the last 20, for the last 5 years to demonstrate one viable instance of these multitudes of tech innovations working as a single product. Imagine being in a board room on Wall Street 20 years ago. Imagine telling an investor in two decades, scooters could be worth 2 billion, do you think that he’d believe you? What about what’s going to come in the next 20 years? While we’re caught up reading articles about how the rise of technology is taking all of our jobs, maybe we should take some time to identify the converse as well. There will be job displacement with the rise of technology. Transportation, as evidenced in this post, is going to change drastically from our most common methods two decades ago. Industry can lobby all it wants, but we can’t stop the growth of the technology we’ve created. We can’t contain the multitudes of ways it can grow, combine, and change. We’re entering a new society of changing industries, with sectors emerging that couldn’t have 20,30,40 years ago. A little amount of fear before something great is to be expected, but let’s not be unreasonable. Change is the only constant we’re assured, and we’ve already opened Pandora’s box. There’s limitless potential to the rise of technology, and we’re far too late to prevent it — so we might as well enjoy the ride.

Bird Scooters: Unpacking the Tech Stack Powering this Innovation

The key is multimodality — mobility in our cities can benefit from both electric scoopers and electric moped scooters. “Scooters have been a hit with consumers,” says , co-founder and president of Spin, a scooter-sharing startup that operates in 18 cities in the US and has a fleet of over 30,000 vehicles. Euwyn Poon Spin is not alone. Electric scooters from , Bird, — and of course Spin — are becoming indeed very popular here in the United States, although not without issues in terms of permits and partnerships with cities. They’re also entering the European markets as we speak, with Lime and Bird already in Paris, France and both exploring new markets — Lime eyeing Turin, Italy and Bird Tel Aviv, Israel. In Paris, Lime has just celebrated the first 100,000 rides a little over a month after the launch. LimeBike Skip Lime and Bird have also attracted a great deal of venture capital investments, both becoming unicorns very fast. But another type of scooter, the electric moped, is also getting more traction in a few markets, even in the US where mopeds aren’t exactly commonplace in general. Flaming red electric ride-on scooters from Scoot have proven to be incredibly popular in San Francisco — where electric kick scooters have temporarily been stopped by the city. Scoot claims that their scooters have covered nearly 5 million miles and counting in the city. In addition to Scoot, Muving has also launched in the US starting with Atlanta and plans to open in Miami, while Scoobi is now operating in Pittsburg, with a business model quite similar to both Muving and Scoot, and even use the same GenZe 2.0 scooters as Scoot. Muving stats for 2017, as posted on their LinkedIn page. Muving, a Spain-based company, shows how the dockless electric moped market in Europe is more mature that the US, and how it could evolve in American cities. Muving, in fact, is already present in 12 cities in Spain, including Barcelona and Madrid. eCooltra, another Spanish company, manages a fleet of more than 3,000 electric mopeds with a presence in five cities: Barcelona and Madrid in Spain, Lisbon in Portugal, and Rome and Milan in Italy. In my native Italy, home of the iconic Vespa, MiMoto already has operations in Milan and has announced a launch in September in Turin, the same city that Lime has chosen for its debut in Italy for its Lime-S electric scooters. The market is moving fast. It is evolving fast as well. Scoot, for instance, is introducing an electric kick-style scooter to its fleet of electric motor scooters and electric bicycles. “Cities all over the world are being transformed by shared electric vehicles like Scoots,” wrote , founder and CEO of Scoot, in a post here on . “They are becoming cleaner, quieter, more affordable, more convenient, more fun, and, when the vehicles are managed and regulated well, they are becoming safer. Shared electric vehicles do all of this by making driving less necessary, not by turning sidewalks into roads. The rules San Francisco is adopting make sense. The companies that can play by them will also play a part in making this city, and so many others, better places to live.” Michael Keating Medium Scoot is also expanding in Europe and after Barcelona it is eyeing several markets, with job vacancies in Belgium, Denmark, France, Germany, Greece, Italy, and the UK. It is also embracing a multimodal strategy and, in addition to electric mopeds and kick scooters, it eyes electric four-wheeler vehicles to create what they defines as “the 21st century subway system.” Lime, whose fleet already includes bikes, electric-assist bikes, and electric scooters, is trying to achieve the same. Tweets via Have A Go The startup is developing a new type of vehicle known internally as a “transit pod.” According to Bloomberg, the concept is in early stages and the design is still in flux: “Lime’s plan is to build an enclosed, electric vehicle that could hold one or two people, resembling a smart car or a deluxe golf cart. The vehicle wouldn’t be a car, exactly; it’s not even clear whether it would have three or four wheels. But it would drive in normal street traffic, and could hit a top speed of about 40 miles an hour, said , Lime’s co-founder and chairman.” Brad Bao Tweet via . Emily Castor Warren Multimodality has been working for Lime, whose “pulls back the curtain on the rapidly growing world of dock-free electric scooter and bike rentals,” a post by on Lime’s blog reads. “Using anonymized data gleaned from rider surveys and the Lime platform, we examine our exponential ride growth through many lenses, including average trip distance, preferred vehicle usage, cost, socioeconomic status, transit connectivity, trip purpose, destination and much more.” One Year Report John Wachunas@Spinlister Lime announced that it had surpassed six million rides since their inaugural launch in Greensboro, North Carolina in June of 2017. “Behind the trips themselves, however, are stats and stories from millions of smart mobility users that reveal a richer narrative,” the blog post reads. “For example, did you know that more than a quarter of Lime riders report using Lime to connect to public transit on their last trip? Or that over half of riders come from households earning less than $75,000 per year?” _Turin, Italy is experimenting with autonomous cars and electric scooters, while London, UK is looking to become the…_hackernoon.com The future of mobility and smart cities in Europe The future of mobility in our cities is going to be exciting! I can’t agree more with , former Governor of Maryland and transit advocate: “This is about more than solving traffic problems in our cities. It’s about figuring out new ways for people to move — ways that are more sustainable, healthier, and use fewer resources than, say, building a new freeway. We should be willing to work with anyone who is offering us an alternative to the personal vehicle. When it comes to mobility, we need an all-of-the-above approach to getting people out of cars.” Martin O'Malley What O’Malley highlights is how important it is for companies and local and city administrations to work together and partner to improve and smarten mobility in our cities. This is the true challenge to move the industry forward and to really have an impact in an industry that needs true disruption. “In order to create an ecosystem that can ensure the success of a virtuous cycle between these new modes and established public transit, government needs to lead,” writes in . “City government should be at the forefront of shaping the rollout of these systems in collaborative, co-creative ways. Thus far, cities are understandably slow to adopt — dipping their toes in the water while they pilot, learn, and recalibrate.” gabe klein Forbes

The other electric scooters and beyond

Just like how Amazon is no longer about books, Uber is no longer about booking a car ride. That is what Dara Khosrowshahi, Uber CEO, hosted by the Economic Club of New York. Like how Amazon is establishing dominance in different market sectors, Khosrowshahi believes that Uber can do the same in all areas of transport. It can be private hire cars, taxi, scooter, the subway, freight and even flying vehicles. In his head, he envisions a world of making everything shared, affordable, and a solution to . He also envisions a world of delivering food from any restaurant in under 30 minutes. described in a talk worsening traffic congestion The difference is in the means. Rather than build the technology themselves, Khosrowshahi wants to build partnerships instead. It demands a “different attitude”. Unfortunately, this will have a very tough time building that sort of ecosystem out. Khosrowshahi’s lofty goals are pretty much blocked by regulatory and financial obstacles even after Uber from its initial public offering. The problem is, they have made 75% of that in losses, reporting a loss of in the last quarter and losing another this quarter—that is despite reporting a 30% growth in revenue. household name pocketed $8.1 billion more than $5 billion $1 billion Since upending the transportation industry and setting a precedent of tech unicorn IPOs, Uber is now facing rough, stormy seas around some of its major markets. Uber can no longer haphazardly and to fight “ ”—termed by then-CEO Travis Kalanick. go for growth skirt regulations an asshole named Taxi Uber may be liable for a which they argued that should be borne by drivers and not the company. $1.97 billion VAT bill London after discovering 14,000 trips being taken with drivers that banned Uber again faked their identity Chicago passed a on ride-hailing services that can add as much as $3 to private rides during peak hours congestion tax Drivers now have minimum wage under the “ ” program in Seattle while also taxing Uber more Fare Share Uber drivers are not independent contractors, according to New Jersey, who slapped worth in taxes and penalties Uber with $640 million It is a lay-off season for unprofitable startups and Uber is not excluded: another off with many being relocated. Khosrowshahi promises that it will be the ‘last wave’, but reality and balance sheets do not care about waves 350 employees will be laid It is catastrophe one after another as Uber sinks lower with every setback. Yet, Khosrowshahi is still optimistic. Will that positivity hold against reality? Ride-sharing Competitors Are Everywhere Uber may have upended the transportation market but it is still anyone’s game. There is virtually no moat between one app and another, apart from pricing points, membership perks and suchlike. Consumers are free to choose between them and another private hire provider. Due to that, most of Uber’s money is spent to aggressively dominate the market especially in Asia, which is home to more than 1.12 billion trips in 2018. According to ABI Research’s y, that constitutes 70% of the world’s ride-hailing market share. latest stud Unfortunately, Uber’s battles had the company spilling too much blood. In Southeast Asia, bought out Uber’s operations in a merger deal, which prompted a to emerge in SEA in attempt to break the ‘monopoly’ between Grab and Indonesia-based Gojek. Singapore-based Grab whole slew of competitors Uber has also exited from other markets—in China, they lost to . Uber is still , Ola Cabs. Uber also retreated from Russia due to Yandex.taxi. rival Didi Chuxing scrambling alongside Bengaluru-based unicorn While Uber has shares in those companies—which thus means their value will rise when their competitors’ do—it also means that they lost market supremacy in many major markets. According to their S-1 filing, Uber claimed to only have owned operations in the Americas, Oceania, Europe, India, and the Middle East. With more competitors at home ground and emerging in new markets, Uber’s already thin market dominance may be threatened even more. The Race to Be a Super App Two years ago, Guangzhou unveiled a . Residents there will have a virtual ID card that serves the same purpose as their state-issued ID linked to their WeChat accounts. pilot program Launched by Tencent Holdings in 2011, WeChat has now become what many know as a . It unites multiple essential functions in a single mobile application, from to . Besides convenience, WeChat has also brought an where more than a billion users cannot live without it. Super App hailing private hire cars transferring money era of change Down in Southeast Asia, in Indonesia have Gojek installed on their phones. Unlike WeChat, Gojek is in a as Singapore-based Grab slowly unveils their own super app plan. one in two people war for supremacy The operating system for everyday life, as Khosrowshahi envisioned, is what Uber aims to be today. Gojek has become more than just an Uber of the East—today, Uber needs to be the Gojek of the West. Fortunately, rivals in Asia have already showed Uber the path to follow beyond mobility services. How Fast Can They Deliver food? At the Forbes 30 under 30 Summit, Uber unveiled a small, sturdy white drone, intended to help Uber Eats delivery drivers . That is great, but Uber is still (with analysts expecting that to be that way for the next five years). send the food even faster losing money on every order The $125.8 billion food delivery market is just as the transportation market, with huge delivery players like Foodpanda, Grubhub, Deliveroo and Just Eat. Other rival competitors such as Grab and Gojek also offer their own food delivery service. as crowded As these food delivery companies pedal furiously to send food to their customers, they are also peddling towards growth. There is the race for creating a sticky platform—there are no moats between one application and the other. Consumers can simply switch between one application to another simply due to price point and type of food. The Saturation in the Bike And Scooters The mobility market is huge and Uber wants a slice of even micro-mobility, which includes bikes and scooters. In the US alone, it is predicted to be a . To capture this market, Uber bought over bike-sharing startup Jump for nearly . $200B — $300B market by 2030 $200 million Months later, electric bikes and scooters are . Los Angeles to Uber’s plea to rent out electric scooters and bikes, so Uber is responding with appeals. Meanwhile, Bird and Lime are operating well in the city. pulled out from two cities said ‘no’ Competition is also heavy in this space. Uber won the bid to in Washington D.C., but so did Lyft, Skip, and Spin. Residents don’t really like it, and there are by lawmakers. deploy up to 10,000 e-scooters demands for safety regulations The micro-mobility space is not one without its own issues. Different market pose different challenges—some of them even outrightly ban it. France has riding on pavements. In Singapore, an e-scooter ride crashed and killed a pedestrian, prompting a . banned e-scooters nationwide ban Each problem poses more costs for Uber. While Uber can skirt around dealing with the issue directly and go for partnerships, that is simply an illusion of a market share. The company needs to directly deploy their own micro-mobility vehicles into the city but at the end of the equation lies the support of the city: without permits, there is no chance of even . capturing a single percent Fighting for Airspace With plans for a in 2023, Uber is now deep in talks with NASA on how they can have effective airspace management. Thus far, Uber has been using helicopters—with their —but the company insists that they will be . flying taxi service own slew of problems replaced by eVTOL vehicles Uber is not the only player in the space: in fact, there are competing for this flying-car moonshot, with Airbus and even Google’s co-founder Larry Page accumulating their chess pieces. many startups The problem is in economics: will it actually give more returns to Uber if flying taxis become a norm? With so many players in the space, there will definitely be regulatory concerns as companies will be figuring out how their vehicles can navigate around one another. In essence, it is a microcosm of the world of airplanes. An admirable ambition but nonetheless, an expensive high-risk bet. Besides facing competition at home, future expansion plans will have to be adjusted to face —which also means more regulations, laws, and authorities to face. rivals in different countries Self-Driving Vehicle Crashes Early Monday morning in Tempe, Arizona, the life of 49-year-old Elaine Herzberg was by a self-driving Uber. The female pedestrian was struck by the car, which sparked a series of investigations about Uber’s autonomous vehicle masterplan. taken away That plan, apparently, . Vehicles were not programmed to react to jaywalkers and according to the National Traffic Safety Board’s study, the reasons than just that. excluded formal safety plans run way deeper The impact was also fatal to Uber’s autonomous vehicle plans as they scale back their ambitions. Operations in Arizona were with 300 operators laid off. after in Pittsburgh. Today, Uber is still with plans to operate driverless services by 2022. That also comes with a $20 million monthly loss. shuttered More were laid off testing more self-driving cars While Uber is tempering their expectations, companies all over the world are pouring more money to win the . Khosrowshahi may have to face off Elon Musk, as the Tesla CEO intends to develop driverless cars to operate commercially in a . At this point, Uber needs a breakthrough; without overwhelming success in this sector, those self-driving car dreams may be attained by others first. All these companies need to do is to simply clone the Uber application, which many agencies are already doing anyway. self-driving car race ride-hailing network Freighting Against Freight Powerhouses Up against freight giants like DAT Mobile and rival competitor to become a unicorn, Uber Freight is haemorrhaging they are earning. Problem is, Uber shares 99% of gross revenue with carriers and it backed itself to the corner with that. Taking on the typical early-stage startup growth method, Uber Freight has taken on huge risks. Convoy raising $400m $1.36 for every dollar When profitability becomes a focus, there is a chance that carriers become alienated. Legacy logistic companies like Coyote Logistics and C.H. Robinson are also launching their own digital freight matching services—according to , they are the top few applications that carriers regularly used. The aforementioned competitor Convoy is standing in the runner-up pedestal. CarrierLists Definitely, the digital brokerage is anyone’s game, unlike the incumbent-dominated freight market space. However, simply because it is anyone’s game, there is no real moat between one app and another. Users can simply switch between one another, which means a real uphill struggle for market supremacy. Uber may have to tamper their ambitions or double down, which will leave their coffers lighter than it already is. It is a battle of balance at this point. Uber needs to find the maximum amount of money they can burn without sinking, while also fuelling their ever-aggressive growth. With other unicorns like WeWork serving as a great case study, Uber must also keep their balance sheets in check lest they become owned by one of their investors. At this point, it is clear the Wall Street is not forgiving and public investors are not entertaining private valuations—essentially, those valuations are what investors they are worth. The year of the unicorn may come to an end with disappointing IPO and post-IPO performances like: think Money-losing Snap may have overtaken their but time is ticking: they’ve got three more years before they ; debut IPO price run out of cash Cannabis company Tilray’s stock reached $180 at an all-time high—today, it’s 10x less, with on the way; more regulatory problems Lyft may be the only one thought as a towards profitability, but the reality is that they are still deep in losing money with a stock price less than half of its debut IPO price; flawless executor Happiness-selling Peloton needs to step on the pedal towards profit and not towards being “ ”, which was revealed to be baseless from the IPO filings; weirdly profitable Financial reports from Pinterest out of them, as shares plunged by 20% while reporting a net loss spooked the stock price Though in a similar situation like those companies, Uber still has the super-app route. The challenge here is to learn from Asian companies: how can Uber utilize their large audience of frequent users and embedded payment systems? Today, Uber’s food delivery, scooter, and bike services are all united in one app but there is still a rush for product diversification. Even though fintech companies like Robinhood and Social Finance pulled out from applying to become a bank, startups are partnering left and right with payment providers — or themselves. Like Gojek, Grab and WeChat, Uber needs to . Uber needs to double down on their efforts with the digital wallet, credit card, and debit card . At this point, Uber is the to move into financial services. Startups are increasingly becoming banks and Uber needs to be one. building payment technologies establish dominance in the payment system plans latecomer The product similarity between Uber and Gojek is that they both have food delivery, tickets, ride-hailing, and micro-mobility. Past that, there is mobile data, parcel delivery, and bill payments just to name a few. Uber needs to as synonymous with daily life like the super app predecessors without tearing a hole in their wallet. Uber needs to develop more products that are either essential to human life or making life more convenient. Uber's quest to become a super app is going to be a long, arduous journey. Within every product lies fierce competitors and underdogs. There is an inherent disadvantage: Uber is fighting against specialists (like Lime in micro-mobility) and super apps (like Grab and Gojek) from a unique position. Being a specialist at the start, Uber has now evolved into a ‘mini’ super app. With public markets to Uber’s latest moves, there is a desperate need for breakthroughs and innovations. not responding very well If all else fails, at least Uber can try to become profitable, which only makes our reality even more surreal.

Uber Wants to be an Amazon

Funding a brilliant idea and turning it into a viable start-up isn’t an easy task. Some people ask friends and family for a contribution, while others might initiate a crowdfunding campaign or look for angel investors or VC’s to inject some much-needed capital into their business. Over the past three years however a new method of funding has emerged and various entities have successfully raised funds, sometimes even only based on a whitepaper. What did they do? The answer is: they launched an ICO. To this day, the money raised through ICO’s in just over three years has USD, with over being raised in 2018 alone. Compared to the traditional stock markets, cryptocurrencies only account for a small piece of the pie, but the industry has been growing really fast over the last few years. totaled over 13,000,000,000 half of the total amount Just look at this animated overview of the ICO bubble that was created. https://youtu.be/ac1P3GXkFxc What is an ICO? Launching an Initial Coin Offering (ICO) or Token Generation Event (TGE) is a way to raise funds for a blockchain based start-up in exchange for supplying tokens to investors. ICOs are mainly launched on a blockchain platform like Ethereum, NEO or EOS. One of the main benefits of launching on a blockchain platform is the possibility of adding a smart contract that will execute terms and conditions associated with the ICO. Participating in an ICO that issues utility tokens as an investor does not mean you generate equity or any other kind of asset from the company. Tokens issued are intended as an IOU or coupons which allows owners to exchange for future products or services. ICO’s are mostly unregulated and specific countries (e.g. Malta, Switzerland and the Republic of Singapore) are favored to launch an ICO because of its favorable conditions. To avoid issues with authorities afterwards, ICO projects usually prohibit citizens of certain countries to participate and they will require token sale participants to be verified through providing Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) information. Tokens issued after an ICO are mainly utility or dApp tokens. These tokens function as a future IOU to attain access to a project’s service or product in the future. Besides utility tokens there are also security tokens. A token is called a security token when it offers governance voting rights or when token holders will gain profit sharing rights. A security token gives the owner special rights in regards to the company that issued the token. Current issues with ICOs After the ICO gold rush late last year and during the beginning of this year, a lot of people, especially individual investors, got burned and saw massive losses on their investment. ICO projects performed really bad under the recent bearish market conditions, with some even reporting a 99% loss from their all-time-high prices. ICO project launch platforms and Cofound.it recently threw in the towel. Cofound.it it is shutting down its operation and provided the following reason to do so: TokenLot announced “After a lot of consideration, weighing the different options against each other and looking at it from different perspectives, we have decided that the second option is the most responsible way to go — we wind Cofound.it down and distribute the assets to token holders. The purpose of Cofound.it was to build a platform and protocol to enable an alternative VC ecosystem; to continue with this purpose for a market that does not exist is not responsible .” Over the course of the last few months a decrease is detected in ICOs raising their desired funds, with a few minor exceptions, like entertainment platform (TTU) that raised 575,000,000 USD. It is currently listed on at number 111 at a valuation of 43,000,000 USD. raising 100,000,000 USD to build and launch a platform that supports the Hashgraph protocol. They have yet to issue their tokens and launch on an exchange. TaTaTu coinmarketcap Hedera Hashgraph Participating in an ICO is in essence not the best position for individual investors. Individual investors are usually the last people to invest with the least amount of insider project knowledge and the highest amount of token price. Because of the lack of transparency, they are often unaware of the token purchase price of seed investors, friends, and family plans or VC rates. Getting dumped upon by earlier investors is a regular occurrence. ICO Terms state that the project is a high-risk investment and it might fail and there is nothing you can do about it. Yes, it actually says that in the ICO terms. What is an STO? A Security Token Offering (STO) is a relatively new way of raising funds for a start-up. It has some similarities to a traditional business that is going public through an Initial Public Offering (IPO). In an STO a company issues security tokens to investors. Security tokens can be described as asset-backed IOUs and they can be considered legally binding investment contracts that give investors access to a share of the company, a monthly dividend or a voice in the business decision-making process. Is launching an STO a sustainable solution for blockchain companies to raise capital? While ICO investors at utility token offerings do not acquire any rights or shares from the company they invest in, STO investors have more rights and can own shares similar to a regular business initiating an IPO. Benefits of launching an STO compared to an ICO are: Investors receive an asset-backed token because it basically is a share in the company. The business is more sustainable as it is scalable. It eliminates scam projects because it requires government compliance. A downside to STOs is that it takes away from the decentralized nature of cryptocurrency as government entities are involved in the approval to launch an STO. Given the fact that financial products are involved it seems fair that a reputable source is overseeing its legitimacy. Lately, more and more companies are leaning towards launching an STO. News surrounding STOs has seen a large increase in the past months: - Overstock.com subsidiary , recently in which they raised 134 Million USD for their alternative trading platform for securities launched on the blockchain. tZERO concluded its months-long STO - Electric scooter company is launching an STO to for its start-up. SPIN raise 125 Million USD - Digital asset exchange Binance it is partnering with Malta in opening a specific digital exchange that offers the trading of security tokens. announced Various platforms have emerged and will assist start-ups with their primary issuance through an STO, like , , , and . StartEngine Harbor Republic Polymath Dusk Network Growing the cryptocurrency industry to a new and fully compliant asset class Blockchain project was the first to take on a new approach in launching an ICO and implemented Ethereum co-founder of a more suitable ICO scheme, called a DAICO. A DAICO is an abbreviation of Decentralized Autonomous Initial Coin Offering and aims to implement the main benefits of a Decentralized Autonomous Organisation (DAO) into an ICO in a way that minimizes the risk and complexity. The Abyss Vitalik Buterin’s idea announced it will be by at least 1 year with some specific funds being locked for up to 10 years. This gives them an additional incentive into committing themselves long-term and building the project they intended to build. Nebulas postponing the teams' payment One of the key issues that need a solution is the fact that an ICO isn’t scalable. After a team runs out of funds there is no way to pay for staff and other business expenses. Money burns really fast when traveling all over the world to visit conferences, sponsor booths and pay a premium to hire blockchain developers, who are a scarcity. Some projects are now initiating to fund a new business feature. Recently word got out that . Verge is to be able to keep working on the project. second ICOs Dash might be running out of money asking for donations In my opinion, we will see a big surge in the tokenization of securities starting in the coming months. Startups that enter the blockchain and cryptocurrency industry probably notice that the new trend will be to conduct a legit and compliant form of fundraising. Disclaimer : This article is not intended as investment advice. It is just my personal opinion. You should always do your own research, before investing in a project and never invest more than you are willing to lose. Subscribe to my channels , and if you like my articles and would like to be informed about blockchain, cryptocurrency projects and news. You can also read my articles on . If you have any questions about this article, please comment in the comment section below. Thank you! LindaCrypto Steemit Medium Twitter LinkedIn

Are Security Token Offerings (STOs) the new Initial Coin Offerings (ICOs)?

The global electric scooter market is expected to reach by 2025. US$28.56 billion In Latin America, grabbing an electric scooter for short-distance trips is a fairly new phenomenon. While U.S.-based electric scooter startups like Bird and Lime have expanded quickly and raised millions of dollars over the past few years, Latin America didn’t see its first electric scooter startup launch until early 2018. Based in Mexico City, was the first startup to take the plunge in Latin America, deploying its scooters on the streets of the capital city after receiving funding from the prestigious Y Combinator. However, Grin wasn’t the only transportation startup to notice the enormous potential in Latin America. Grin Many large cities in Latin America, such as Mexico City, Bogota, and São Paulo, are known for crippling traffic congestion during peak hours. Not to mention, many of the public transportation systems struggle to support their increasing populations. It’s normal for transportation systems in Latin America’s densely populated cities to run above capacity during peak hours, often making public transportation a stressful and unpleasant experience. These issues have led to an increasing number of alternatives to traditional public transportation systems, including ride-hailing, bike sharing, car sharing services, and more. According to , Mexico and Brazil are two of Uber’s biggest markets globally. Bike sharing programs are now available in nearly every mid- to large-sized city in Latin America. And in just a few short months, competition in the electric scooter space is already heating up. Reuters Here’s a look at the electric scooter companies actively expanding across Latin America. 🛴 Grin Launched in July 2018, Grin currently only operates in Mexico City. However, the company has plans to expand to other cities throughout Latin America. In a span of just a few months, Grin received backing from Y Combinator, raised in one of Latin America’s largest Series A rounds, and with São Paulo-based to further the company’s expansion across Latin America. Ride will operate under the Grin brand in Brazil and manage Grin’s operations in Brazil. US$45 million merged Ride Grin has even partnered with Colombia’s to help fuel its user base and expansion across the region. The company recently landed in Colombia with a test phase of . Rappi 150 scooters Bird Bird scooters first hit the streets of Santa Monica, California in 2017 and quickly expanded to other local and global markets. The scooter startup was recently valued at after a $300 million round of financing earlier this year. US$2 billion In October 2018, the company announced its expansion into Mexico City, its outside of the U.S., rolling out 100 scooters to start. Bird also announced it has plans to launch in Brazil next. fifth city Lime Another electric scooter pioneer, Lime, has expanded to globally, including Mexico City, since its first launch in June 2017. 72 cities With a , Uber owns a minority stake in Lime, and there are rumors Uber is the scooter company, or its main competitor Bird. valuation of approximately US$1.1 billion considering buying This year Lime plans to launch in 50 new cities internationally. Cosmic Go Cosmic Go was one of the first electric scooter startups on the scene in Colombia, rolling out on the streets of Bogotá’s busiest neighborhoods in November 2018. 100 scooters The company plans to launch next in Medellin, Barranquilla, Cartagena, Santa Marta, among other cities in Colombia. Yellow Shortly after selling their ride-sharing startup, to Didi Chuxing for last year, the 99 founders launched , a bike- and scooter-sharing service. 99, US$1 billion Yellow The startup quickly raised a US$12.3 million seed round in April 2018 and a Series A round in October 2018, the largest Series A round ever for a Latin American startup. US$63 million The funding will help ready the company for its across the region. expansion Movo With an investment from Spanish ridesharing giant, , Movo plans to launch its electric moped scooter sharing service across Mexico, Peru, Colombia, Chile, and Spain. Cabify While there is still no exact launch date, it’s estimated that will be available in Latin American cities and Spain. 20,000 scooters Movo will be entering an already-crowded space, and it remains to be seen if its partnership with Cabify will be able to accelerate its adoption in Latin America. Scoo Joining Yellow and Ride, Scoo is another Brazilian electric scooter company founded by Marcelo Duarte, a São Paulo entrepreneur. During a trial period from August to October 2018, Scoo recorded trips. Though the company declined to say how many scooters it has available on the streets of São Paulo, it’s estimated they are operating with at least . 15,000 1,000 scooters With in funding, Scoo plans to run tests in Rio de Janeiro next and expand to other capital cities next year. US$1 million Scoot Networks San Francisco-based Scoot is another electric vehicle company to watch in Latin America. With an existing fleet of electric bikes and electric mopeds, the company recently selected Santiago, Chile as its third market to launch its electric scooter service in October 2018. After a successful launch in Barcelona, Spain, the company secured a partnership with the Mayor of Santiago and was permitted to enter Chile with a fleet of up to 500 electric scooters to start. Jump In May 2018, Uber acquired bike-share startup, Jump, for a rumored . Though the company focuses on bikes, Uber hopes to expand its mobility options to include electric scooters. US$200 million The company operates in in the U.S. but recently announced it plans to launch an electric scooter service in Mexico and possibility Brazil in the first quarter of 2019. 10 cities There are few specifics, however, Uber’s Vice President of New Mobility, Rachel Holt, they’ve been speaking with local governments in Mexico and see big opportunities in the region. said Real solution or just a fad? 2018 was certainly the year of the electric scooter around the world, though most of the scooter activity in Latin America occurred during the last few months of the year. In 2019, it’s likely we’ll continue to see startups drop scooters on Latin America’s streets, with or without permission. With that said, it’s still too early to tell whether or not electric scooters are a viable solution for short distance commutes in Latin America — and whether or not Latin America’s already congested cities can support a heavy presence of scooters. However, the companies working with local governments and partners are likely to have the best chances for success as they expand aggressively across the region. This article was originally published on Launchway Media.

The Electric Scooter Startups Invading Latin America

While 2018 was the year when the world learned about e-scooters, 2019 may be the year when the world forgets about them. What changes can be made? The winter came. It came together with snowy sidewalks, cold weather and about investors’ in companies. More precisely, VCs are very cautious about startups’ financials. Vandalism, government regulations, charger fraud — these factors pose a significant threat to the bottom line and the whole phenomenon of electric scooters. But initially, expectations were much more optimistic. more news chilling interest scooter-sharing Envisioned in sci-fi If you take a wider perspective, are the reincarnation of self-moving walkways envisioned by sci-fi writers 100 years ago: efficient and sustainable transportation mechanism, a commodity available to everyone at any time. Out of all transport that humankind has invented (apart from airport walkways), electric scooters are the closest to self-moving roads. By stepping on a scooter, user practically steps on a moving platform that gets her from point A to point B in a matter of minutes. electric scooters No matter the weather or time of the day, the idea of the service is to run and provide people with value at an acceptable price. And if you have a moving walkway on your street, the government can’t make you put it at home for a night. It’s always outside, always working and reliably transporting people. Sounds too good to be true, but this is the world scooter companies are trying to build. Threat coming from everywhere While we can spend a lot of time dreaming about moving walkways in distant 2050s, the harsh reality meets electric scooters with hostile cities. Surprisingly, there are so many factors influencing your business when you run it in a real world! One of the most discussed problems is and vandalism. The first one, albeit a tremendous problem in the short-term, should start to vanish in 2019, as scooter startups are starting to present successful showing significant benefits to municipalities. The momentum is going to be reinforced by a soon-to-be-announced association of micromobility companies, jointly lobbying for better regulations in the new markets. government regulations case-studies and missing scooters are more of a financial problem. If vehicles get systematically destroyed before breaking even, the business won’t run long. Bird and Lime already introduced their sturdy custom-made scooters, however, it’s not clear how they will affect the bottom line. If Bird was spending $550 on its $300 Xiaomi scooters, how much does the new Zero model cost? Lime, while expected to roll out fresh sturdy Gen 3 scooters, decided to put on the streets a totally different model, manufactured by a no-name Chinese firm. Weird move, but Ok. Vandalism Missing scooters problem got to a whole new level with a shared Bird scooter in a personal one. The same source also published ways to “privatize” Lime scooters. That issue is expected to be solved with the arrival of custom-made vehicles. $ 32 kit to convert Stealing a scooter is bad for its company, but buying one is not beneficial either. is the best-kept secret of micromobility sector for a reason: while it was expected that a lot of people will use scooters for commuting, they actually did this. They did it once, they did it twice, three times … and then their personal scooter arrived from Amazon, ending the stream of recurring revenue flowing to the scooter company. Retention Pricing strategies Even though companies are trying to adjust their prices to local markets, their huge costs don’t allow to do it properly. That’s why we have a situation when the average employed person can have:12 thousand rides in Seattle, USA3 thousand rides in Wroclaw, Poland4 thousand rides in Zaragoza, SpainPer year with a gross salary. Such a pricing strategy creates a conflict out of nothing — one brand with identical marketing and positioning is a premium tool in one country and a commodity in another. Communicating the value In my first escooter I was wondering if people would still use scooter-sharing services when they calculate that it costs $2500 a year to commute with them. Micromobility ecosystem still doesn’t have an answer for that, and that’s the problem of both Marketing and Operations departments. article Users simply don’t recognize that they are paying for mobility and opportunity of not taking care of their scooter. It’s unclear how cool it is NOT to take the vehicle in the metro, or how convenient it is to come to work by bus and go back on a scooter. Only after buying one for themselves, people realize the benefits of the sharing model. But they won’t go back after shelling out $600-$1200. An electric scooter is not a classic technology product. Although Apple iPhone costs $1000 both in the US and in Mongolia, there is always a cheaper option from Oppo for $100. Such a variety of pricing options is not the case for scooter sharing market and this is not going to change soon.Lime was testing the subscription model called Lime Prime, but the tests have ended months ago. And since we haven’t seen the results, we can assume it was a failure, probably caused by huge charging costs. Problems with the current model Currently, it costs about $4–$9 to charge a scooter by contractors — an incredibly high number for 3 mid-range city trips. Can you imagine the bus driver getting $1.5–$3 from each of his passengers during the day? Chargers of Bird and Lime are trying all the methods to increase own effectiveness. Photos by David Pennington‎ (left) and Grayson C Boley‎ (right) With a shrinking bounty, charger market transforms from individual actors, collecting 3–4 scooters every other day, into organized teams putting a serious effort in their job. They optimize routes and craft own instruments in order to capture as many scooters as possible in 7 hours that they spend on this “side gig” daily. Isn’t it a sign from the Invisible Hand of the market? At the end of the day, it doesn’t matter how effective are chargers, since a part-time contractor will never reach an efficiency of the full-time employee. As we start talking about real problems and solutions, the excitement goes down. Check the famous Gartner Hype Cycle in 2018. Micromobility hype was so sudden and the progress was so fast, that no edition of the chart includes it. Scooters are a huge leap, but the process of service improvement is far from being done. So I’m introducing you to another important step in the evolution of electric scooters: efficient charging. Proposed model Bearing in mind all the problems affecting the financial stability of companies, I came up with a model based on new scooters with swappable batteries. Replacing all juicers and chargers with full-time employees allows the company to improve efficiency, take control of its city, reduce costs and offer more stable jobs. This win-win model can be 100% vertically integrated, as well as used in a global transportation . franchise This autumn a lot of scooter companies were focusing on Spain, so calculations were done based on this country.The first new element of the model is the scooter. That vehicle is similar to the one used by Neuron Mobility, Singapore-based startup that launched e-scooter sharing service before Bird. Their dockless scooter lasts 40km and has a swappable battery. In the proposed model, employees on cargo electric bikes are replacing the batteries in the majority of vehicles every day, while in some of them they change the battery twice a day for operational effectiveness. Same people rebalance 10% of the vehicles in the city.Cargo e-bikes from China start at $500, but, in the proposed model, a long-lasting solution costs $2000. Scooters that were taken to distant areas outside of the city are collected by dedicated electric cargo cars. A car provides increased speed and capacity, allowing the company to get back the scooters that previously were left on the outskirts. More importantly, the car offers increased safety when it comes to doing operations in inner districts with high crime rate or at the late time. Currently, scooter, with an empty battery at 14:00, lies on the sidewalk without generating any value. And with the proposed system, public space and scooter resources will be able to reach much higher utilization levels.Geofencing inside dense urban blocks may decrease the costs even further, allowing employees to collect scooters from the sidewalks instead of backyards. Bird is already using similar geofencing to prevent charger fraud. Financials So how the new charging model will affect the bottom line? With the current pricing strategy, v1.5 model doubles the profit. Price per 10,000mAh is down 11 times, while 1 km now costs 13 times less. This model doesn’t only beat the contractor model used by bigger companies, it also beats $4.5 that some European startups spend to charge a scooter through other operations models. Find the to get the detailed information and play with the model. spreadsheet here So far we were talking about changing operations in version 1.5. Version 2.0, also presented in a spreadsheet, also offers a new business model — a more affordable solution for thousands of customers who loved escooter experience, and decided to buy a personal vehicle.The new business model has 2 types of tickets: monthly subscription and a casual ride. Monthly subscription for $100 offers up to 5 trips per day, while casual ride becomes more expensive since now user has to pay $0.25 per minute. CitiBike in New York has 87% trips made by subscribers, so we are using this ratio in calculations. The model decreases the gross margin from 70% to 52% comparing to v1.5, but it makes the service much more affordable to all social layers, therefore increasing the total addressable market. Only at this stage, you can say that scooters compete with walking. Trends Now, this is an even more operationally intensive business, offering more space for KPI deviation in different cities. At the same time, there are a lot of factors that will improve unit economics even further: 50% gross margin turns into something gigantic with new market penetrationDecreasing excitement around scooters = less vandalismBattery technology is improvingVehicles are becoming sturdierCollecting scooters costs less in cities with higher scooter densityEnormous card processing costs are expected to decreaseCompanies work on camera and to increase vehicle lifespanSources of income may expand lock solutions into ads Why nobody did it yet? So if there is a way to cut costs, why scooter companies didn’t do this yet? Part of the answer is that it would be a political move. There was a lot of buzz about sidewalks, a lot of buzz around injuries and so media would be happy to use new information to create even more screaming headlines accusing evil Tech of taking the income from gig economy workers. Another part of the answer is that some companies already do this. Neuron Mobility is actually swapping the batteries of its scooters to minimize charging costs. The company views itself as operationally flexible, meaning that when the time comes to foreign markets in Asia, they will be able to adjust the operations model to local needs — offering either a dock-based solution or completely different operational paradigm. to expand As CEO of Neuron Mobility, Zachary Wang put it, answering my question about the future of electric scooters: “E-scooter sharing is still at very early days… It will take some time to overcome the current lack of regulation in most of the countries, as well as to upgrade the infrastructure and to blend this new mode of mobility into urban design. Road users have to be re-educated about how to co-exist…I believe it’s an irreversible movement that is definitely going to change the future of urban transportation.” As a product or service, electric scooters are undoubtedly more successful product than Segway. But will they be able to outlast the Segway, or will they follow the path of Chinese bike-sharing? It really depends on the positive change in operations strategy, and we should see some results already this spring 2019. P.S. Thanks , , , for help with the graphical part. Free pik.com Vectorpouch Macrovector Vector pocket

What’s the Biggest Threat to Scooter Sharing in 2019?

Uber, Lyft, Waze, and DiDi are not the only one. From London, Paris, and New York, to China, Israel, and Estonia, these companies are revolutionizing the way we move around. Whether it’s about commuting to work, traveling across countries and long distances, biking around, or just moving from point A to point B in your city, trust and data seem to be key the key factors in moving the industry forward. VIA Via ( ) is trying to build the most powerful on-demand transit systems in the world. The company also partners extensively with public transit agencies, making its proprietary software available to them — like Capital Metro in Austin, Texas, Keolis in France, and Arriva in the UK. According to the company: “Using Via, a ride booked on your phone costs little more than the bus.” ridewithvia.com Via is on-demand transit on a mass scale; it’s transportation that’s friendly to our planet. The app is currently available in New York City, Chicago, and Washington DC, and the company is aggressively expanding nationally — eyeing large markets like Austin, Boston, Los Angeles, Philadelphia, and San Francisco — and abroad, where is focusing on cities like Berlin, London, Rome, Sau Paolo, and Toronto. Via is headquartered in New York City. Daniel Ramot, co-founder and CEO of Via. CITYMAPPER C ( ) has been evolving from being an app that empowers data to make commuting and moving around cities easier to developing transportation services. The company has recently launched “a social hyper-local multi-passenger pooled vehicle” and private bus services in London to cover what its data flagged as under-serviced public transport routes. itymapper citymapper.com Cities are complicated. We use the power of mobile and open transport data to help humans survive and master them. The Citymapper platform, which also allows you to book services like Uber and Mobike, is available in almost . 40 cities around the world Citymapper is headquartered in London, UK. Azmat Yusuf, founder and CEO of Citymapper, at at Techcrunch Disrupt London 2016. BLABLACAR B ( ) is a community marketplace that connects drivers with empty seats to passengers looking for a long-distance ride. According to the company: “Over 12 million people use BlaBlaCar every quarter creating an entirely new, people powered, transport network.” laBlaCar blablacar.com With a dedicated customer service, a state of the art web and mobile platform, and a fast-growing community of users, BlaBlaCar is making travel social, money-saving and more efficient for millions of members. The platform counts over 45 million members in 22 countries around the world. BlaBlaCar is headquartered in Paris, France. TAXIFY T ( ) is a fast-growing transport technology company in Europe, the Middle East, and Africa, with more than 3 million users in 20 countries. According to the company, whose app allows users “to book convenient and reliable rides at the tap of a button,” both “taxi and private driver companies join Taxify to get more customers and benefit from our market leading transport technology platform.” axify taxify.eu Taxify is literally changing how millions of people move by making on-demand transport affordable in tens of cities around the world. “We wanted to become taxi aggregator at first — we later turned it into the ride-hailing app we know today,” said co-founder Martin Villig in an interview last June. Taxify has more than 25,000 drivers in over 20 countries. Not only the company large cities like London, Paris, and Mexico City, but its platform is also available in smaller cities like Budapest, Malta, Belgrade, and even in Riyadh and Baghdad. services Taxify is headquartered in Tallinn, Estonia. , Taxify’s co-founder and chief executive officer, discusses the company’s business model with Bloomberg’s Caroline Hyde on “Bloomberg Technology.” Markus Villig DRIVY Drivy ( ) is a marketplace for car rental. The company’s platform “lets you hire a car from among the thousands parked nearby, providing a cheaper, quicker car rental service.” drivy.com Martin Villig We want to create an on-demand car service that is much more efficient than owning a car. According to Car Magazine, the platform counts more than “40,000 cars across France, Germany, Spain, Belgium, and Austria and a million members.” Drivy is headquartered in Paris, France. Paulin Dementhon, co-founder and CEO of Drivy, at NOAH16 in London. OFO AND MOBIKE As China’s bike-sharing startups Ofo and Mobike are agressively expanding into overseas markets, rumors of the two companies merging are mounting, to create “a single dominant player in the fast-growing business” worth more than $4 billion, as . Bloomberg reports Both Ofo and Mobike allow users to unlock their bikes off the street — instead of using dock systems like more traditional bike-sharing services — using just a smartphone and electronic wallet, ride them to their destination, and then dump them. “Mobike is the clear leader in the global bikesharing industry, supporting 30 million rides in 180 cities around the world every single day,” the company told Bloomberg. Ofo has said it plans to have 20 million bikes in 20 countries by the end of the year. Both companies have recently launched in the US and Europe. Ofo and Mobike are both headquartered in Beijing, China. SCOOT S ( ) operates a fleet of “shared, smartphone-enabled, electric, Vespa-style scooters” currently available in San Francisco. According to the company, the iconic red electric scooters are “expanding beyond San Francisco and choosing partners to bring the future of transportation to new cities.” One of the cities is Barcelona, Spain, where the company is currently hiring a fleet manager. coot Networks scoot.co Scoots are the perfect combination of speed, affordability, convenience, safety, and sustainability for the billions of trips that take place everyday in cities around the world. , the electric scooter rental service has been used by almost 50,000 users since it launched in 2012, and has logged more than “1,000,000 miles scooted,” . Keating has recently announced a partnership with to bring the automaker’s yet-to-be-released small electric car with swappable batteries to San Francisco. According to Scoot founder and CEO Michael Keating as of last year Chinese automotive startup CHJ Scoot is headquartered in San Francisco, CA. CHARIOT C ( ) is an on-demand shuttle service. According to the company, its mission “is to become the world’s first profitable mass transit service by crowdsourcing a network of commuter shuttle routes that provides a fast, reliable and affordable service using new Ford Transit 15-passenger vans.” hariot chariot.com We’re focused on creating the world’s first self-sustainable mass-transit system that relieves congestion while offering a comfortable, personalized commuting experience. Bought by Ford in 2016, Chariot operates its own fleet of on-demand vans in the San Francisco Bay Area, as well as Seattle, New York, and Austin. Los Angeles is among the future markets its targeting, as are international cities like London. Chariot is headquartered in San Francisco, CA. , founder and CEO of Chariot, at SXSW. Ali Vahabzadeh GRAB Grab ( ) started as a ride-hailing platform in Southeast Asia but has extended its services to include private car services, motorcycle taxis, carpooling, delivery, and mobile payments. The company says: “Working with governments, drivers, passengers, and the community, we aim to unlock the true potential of the region by solving problems that hinder progress.” grab.com We use data and technology to improve everything from transportation to payments across a region of more than 620 million people. The platform claims more than 700,000 drivers across around 40 cities in Singapore, Indonesia, the Philippines, Malaysia, Thailand, Vietnam, and Myanmar. Grab is headquartered in Singapore. GETT Gett ( ) is a cab-hailing startup with a mission “to build a transportation service loved for its quality.” gett.com We’re a global ride sharing app built on a simple idea — if you treat drivers better, they will treat riders better. Gett is in more than 100 cities in four countries; the UK, the US, Israel, and Russia. According to the company, “in London alone, nearly half of all black cabs run on Gett,” while in New York City it operates through its subsidiary Juno, and “on-track to become the second-largest player in that market.” Gett’s recent partnership with Carey International, a chauffeur and logistics business, will grow its market to 1,000 cities globally, including 100 more in the US and Europe. The company is headquartered in Tel Aviv, Israel.

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