Riders Share is the Airbnb of motorcycles. It is the largest peer-to-peer rental platform for street legal motorcycles. Since its launch in February 2018, over 7,000 motorcycles have been shared and completed 15,000 trips. Riders Share uses top notch machine learning technology to predict the probability of an accident, manage the risk accordingly, and keep insurance costs down. That way, its motorcycle rental prices are typically 60% lower than traditional motorcycle rental brands. In the same way that the car industry has transformed itself into the mobility industry, Riders Share's goal is to transform the motorcycle industry into an experience industry; starting by making riding more affordable and accessible.
There are 30 million people with motorcycle licenses in the US and only 9 million registered motorcycles. Most motorcycle riders only ride their bikes once every other weekend, averaging under 2,000 miles per year. On a per mile basis, owning a motorcycle is 3 times more expensive than a car, and it is usually the second vehicle - a very expensive toy!
Riders Share's theory is that we can start a boom in the motorcycle community simply by making it more affordable. For motorcycle owners, renting out can offset ownership costs and help them buy more bikes, usually different types of bikes for different use cases (sport vs. cruising, for example). For motorcycle licensed individuals, Riders Share offers the possibility of choosing from thousands of motorcycles without having to worry about maintenance, monthly payments, annual registrations, etc. It is our firm belief that if we increase safe ridership, we can spark a resurgence in motorcycling among young people.
Millennial founders (and avid riders) Guillermo Cornejo and Brendon Lamb started Riders Share after years in the auto industry working in projects related to brands such as Volvo, BMW, Nissan, GM and Hyundai. They were perplexed by the high costs of renting motorcycles and saw an opportunity to build a service they would enjoy to use themselves. Bringing in the latest and greatest from data analytics, they figured out how to make renting more affordable - and continue to find ways to lower prices every month or so.
Within 18 months of launching, Riders Share grew to over $3 million in annualized gross revenue. After bootstrapping and being 2 weeks away from running out of cash, Riders Share raised capital from prestigious investors such as Techstars and Pritzker Group Venture Capital. They have big plans for 2020, including mobile apps and stay tuned for entirely new products.
To learn more about Riders Share, rent a motorcycle for the lowest prices or list your motorcycle for rent, please visit:
September 19, 2019- -
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October 10, 2019- -
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