Louis Yson
Maywood, NY (USA)
Role(s):
Founder/Owner/Principal
Ride Velo inc
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Startup
Location:
Maywood
Industry:
Technology/Web
Year Founded:
2017
Number Employees:
1-10 people
Business Stage:
Growth (not profitable)
Entity Type:
"C" Corporation
Description:
VELO has entered the ride sharing industry as the only first of its kind adopting a subscription based model app. Subscription model has been very successful for company like hulu and netflix. VELO adopted this model to be more competitive with other ride sharing companies and to achieve one of its primary goal to increase profitability for drivers and savings for riders because of the competitive pricing it can offer. With VELO a driver pays $349 per month subscription for the VELO app versus other ride sharing app, where drivers pay out commission of 30% to 35%. With a simple calculation on cost and profitability, drivers will choose to use the VELO app over its competitors earning more to provide for family.
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