Introducing to you the fastest-growing bike-sharing start-up in the world, Bounce. The Bengaluru based company on Tuesday said that it has reached a significant milestone of 60,000 rides per day in the city. Within 10 months of inception, the startup has completed over 5 million rides, covering up to 30 million km.
Bounce becomes the fastest growing startup
Bounce was introduced 10 months ago by Vivekananda HR, Anil G and Varin Agni who are also the founders of Wicked Ride. Bounce is an app that allows the users to pick up a scooter and drop it at any legitimate parking spot, allowing a rental price. The company is now valued at over $292 million and claims to have more than 7,000 bikes with 11 lakh users.
The startup gave a statement, “This 60,000 milestone was achieved with around 7,000 dockless scooters covering an average distance of seven to eight kilometer per ride. Bounce also remains one of the most affordable modes of commute offering users rides at Rs 5 per km.”
Growth better than global players
Bounce saw over 5 million rides, covering 30 million kilometers within 10 months of inception. With this milestone, the firm becomes the fastest growing shared mobility startup in the world-beating major global players like Lime and Bird. Lime achieved one million rides in five months in San Diego and Bird has achieved 10 million rides in just one year since its launch.
Vivekananda H R, the CEO, said, “This feat would not have been possible without the contribution of each and every member of the Bounce community, both employees and users alike. We are steadily on our way to democratizing mobility in India and making Bengaluru a public transport society”.