Executive Summary As the pandemic reshapes entire industries, the need for agile entrepreneurs have never been more urgen...
Transit deserts are creating huge problems for commuters
As cities grow, more and more people are getting pushed farther away from the city center, but public transit is not keeping up. In New York alone, over 600K+ residents live in areas with poor access to public transit. This means that some people commute up to 3.5 hours a day. This brings additional stress, hardship, and expenses to thousands of communities.
The new original rideshare
Dollaride offers a new twist on an old transportation model to ensure that marginalized, outer-city communities have a faster, more convenient commute. We make public transit available to anyone, anywhere by delivering superior transportation starting at only $2 a ride.
We do this by merging our technology with the informal network of local commuter van drivers (ie "dollar vans") to meet the growing demand for mobility solutions in transit deserts.
Drivers trust Dollaride because our product helps them grow their business by accepting digital payments and expanding to new territory.
$2 for a single ride. It’s that simple.
Dollaride serves both drivers and riders. We first help identify unmet consumer demand in transit deserts and incentivize local drivers to expand their service territory to those areas. By mobilizing drivers, we can then serve commuters, who can simply download our app, find a van, and catch a ride for as little as $2/ride. We are building one of the fastest, most affordable, and most reliable transportation services in the city.
We’ve onboarded 200+ drivers to date who are operating within New York City's outer boroughs. Our founder was one of four winners of the 2020 #MakeIt Awards sponsored by Squarespace and we've signed LOIs with the NYC Department of Transportation, the Mayor's Office, and New York State members of congress. Our current waitlist has over 2,000 new riders.
4.8 star rating
We’ve maintained a 4.8 star rating across our distribution platforms and continue to receive positive reviews from users. In addition to serving nearly 1K passengers, we also provide enterprise clients with a corporate shuttle service for their employees.
“Our workers and residents face what is known as the last mile problem during their commute. The proposed pilot with Dollaride will offer us a way to tackle the last mile problem directly.”
- Scott Grimm-Lyon, the executive director of Gateway JFK.
We serve the whole rideshare ecosystem, offering solutions for commuters, businesses, drivers, and fleet operators.
Serving enterprise clients who bring mobility into transit deserts.
Competitive pricing, with fair service fee
Dollaride has three sources of income. Our primary income comes from a $0.50 - $1 service fee collected from each ride. Secondary sources come from financing new routes through corporate enterprise contracts, and eventually, delivery courier services. These additional revenue streams help us keep our consumer prices low to drive business.
Tapping into a national need
The transit desert issue affects nearly every major city in the United States. Over 4.5M people have difficulty accessing transit. This problem creates a $4.32B market opportunity for Dollaride.
We are currently focused on the New York City market, which has over 120K daily passengers. This presents an $86M market opportunity in New York City alone.
By creating new routes to serve the 600K New Yorkers living in transit deserts, Dollaride aims to grow the NYC market by 5x into a $400M+ opportunity.
A league of our own
We’ve differentiated ourselves from the competition by focusing on underserved and marginalized communities. Our fixed-route service is faster than a bus, more efficient than the subway, and cheaper than an Uber or Lyft. Dollaride is an attractive alternative for commuters tired of the urban transit hassle.
Reaching drivers and riders in 52+ cities
By reaching our fundraising goal, we'll be able to activate 100+ more local drivers, growing both our driver network and service territory in NYC. Our goal is to grow and capture at least a 20% market share over the next 12 months.
To accelerate consumer demand, we plan to create API integrations with mobility app leaders like Google Maps and Moovit to help spread our services in New York and beyond.
Invest with the professionals
Dollaride is backed by forward-thinking pre-seed VC firms, institutions, and a squad of strategic angel investors. Now we're opening up this investment round to YOU - our family, friends, supporters, and industry partners.