Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Bounce.
In a country like India, where traffic lights are more often a popping red than a sober green, and where there is more honking than the sound of breeze, Bounce had come up with one of the coolest ideas of making your daily commute a little less hectic and convenient.
Bounce is one of the modern ventures that rents out scooters to anyone who:
- Carries a License and
- a cell phone.
This might seem obvious, but what is so exciting about Bounce? Well, read on to know more about the company, how does it work, what is renting scooters and why should we consider it and more.
Bounce - Company Highlights
|Sector||Ride Sharing, Mobility, Rental|
|Founders||Anil G, Varun Agni, Vivekananda Hallekere|
|Valuation||$520 Million (2020)|
|Revenue||$13.36 million (Rs 100 crore) in FY20|
|Total Funding||$214.2 million|
|Parent Organization||WickedRide Adventure Services Pvt. Ltd.|
Bounce - Latest News
October 7, 2021 - Bounce is all set to acquire 22 Motors in a cash and stock deal, which will likely range between $7-10 mn. With this Bounce looks forward to entering the electric scooter industry.
How does Bounce work?
As mentioned, all you need is a mobile phone, cause where else would you receive an OTP? An OTP would ensure the team at Bounce that you want to rent one of their scooters and hop on your way. Another interesting service that Bounce provides is that, you do not need to carry that heavy helmet all your way to the grocery store and your office. Yes, Bounce provides helmets for the safety of their customers.
If you wish to visit a nearby park, the movie going around the theatre and worry too much whether you would get your luck in the parking slot or whether there is enough fuel in your car, Bounce it on to the BOUNCE Scooters around. Bounce does not charge extra for fuel, yes, you heard it right. The payment is upon the distance and time travelled. Fares range begin at ₹ 5/KM & ₹ 0.5/Min.
After completing your ride and reaching your destination you just need to end the trip on the application and keep the scooter in a Bounce Zone which is available in different corners of the city. You may also opt for the Pick and Drop option in Bounce.
Why should you Consider Renting scooters?
Well here are some of the advantages of having rented a scooter rather than actually buying a car or a bike.
- Saves your Pocket: It causes a lot of pocket pinch when you consider filling up an EMI every month for a car or even a scooter. Imagine having to pay EMI for hour house, for your new laptop, you air condition, your latest microwave, the dish washer and oh, the washing machine. Like, us, youth do not think these are anymore wants but are indeed a need. And they definitely take a toll at the end of the month. Higher so if you have to repay your education loan. So, where do you save your money? Is buying a new car or a bike the best option now? Can it wait? If your answer is No to the first and a Yes to the later, you should definitely try your hnds on the rental service that Bounce provides.
- Parking your cars can be a real headache: If you live in a metropolitan city like Bangalore, Mumbai, Delhi, Chennai or Kolkata, you would soon realize there are more than 15 lakhs of vehicles on the road on a single day. So where would you park your own vehicle and how much would the parking tickets cost per hour? For cities like Bangalore and Mumbai the parking tickets range up to Rs 50-70/hour. The parking areas except in the malls which are recently planned and developed do not suffice more than 100-150 vehicles and it could be a real dilemma to have the perfect spot to park. With Bounce, you do not need to worry about parking. You may complete your ride and keep it in a safer Bounce zone so that someone else can hop in to your scooter.
- More environment friendly: Have you read the concept about mass transit and re-use? Well the developers at Bounce, aims to Re-use and Re-cycle the transport system so that with the limited number of vehicles more people can use it in turns. With less vehicles that radiate carbon dioxide, sulphur dioxide and nitrous dioxide on the environment having a rented scooter which serves you the purpose to travel as well as do not emit much smoke is definitely a WIN-WIN! The United Nations and WHO also stress a lot on the deterioration of physical health due to the harmful smoke being emitted on the road. With the less number of time you use the scooters and not worry about the car wash and servicing of your vehicle each month, you would be doing a favour to your body and mind.
- Safety factor: Whether you are a woman or a man, travelling with an unknown person might seem scary on a cab. We all know about the different challenges that occur in the daily lives of workers who return late, especially for the women. If you know how to use a scooter, Bounce may be the best option to ensure safety. You can ride anytime anywhere without having to rely on another person.
Bounce is a dock less two-wheeler ride-sharing solution, on a mission to make daily commute reliable, affordable and convenient in India. If you are willing to travel with your friends or just commute to your workplace everyday with the most economical rates (ride fares as low as ₹5/km + ₹0.5/min), try and grab the scooters and pave your own way. Also, its fun to enjoy life by doing everything you want on a low budget, after all, saving goes a long way.
Must have tools for startups - Recommended by StartupTalky
Subscribe to StartupTalky
Get the latest insights delivered to you right in your inbox