Rideshare Startup Launch Revenue Model Where Everyone Wins
Fare, a ride-sharing startup based in Corpus Christi Texas launched a revenue model that gives back a portion of their top line revenue to their users when they share the platform. Drivers receive 10% of all their rider referrals’ time and mileage spending. Riders receive 10% of their referrals’ time and mileage spending in the form of ride credits.
“Not only do we want to provide a reliable, convenient service and a culture of trust and transparency,” said Fare Co-founder Michael Leto. “Our aim is to take a leadership role when it comes to rider and driver safety and to give back to the communities we choose to operate in.”
Fare developed an agent program wherein local businesses can participate in the success of the popular on demand service. Agents can add a passive revenue stream by partnering with Fare. When agents’ referrals use the rideshare service, they receive 10% of all their referrals’ time and mileage spending too.
Fare has over 7,000 drivers in the Austin area. The company has successfully completed over 420,000 trips since they opened for business on May 20, 2016. Visit the App Store or Google Play Store to download the Fare or Drive Fare apps. For more information, visit ridefare.com