To attract drivers, Fasten offered to pay drivers for not only the time the customer was in the car, but also for the distance and time covered when the driver was travelling to pick up their passenger. The company offered promotions such as $5 for any ride under 20 minutes, $3 off your first 100 rides, and free rides between midnight and 3am, with Fasten paying the difference between promotional prices and actual prices to drivers. In its first year in Boston, Fasten mostly targeted college students in the Boston and Cambridge area. In its first year, Fasten made a revenue of $500,000. Fasten has emphasized that for every trip completed by a driver, the company only takes $0.99 of the fare, a lower commission compared to competing transportation businesses such as Uber and Lyft, which both take a percentage of the fare. Using the company's mobile app, customers can send requests for rides, which are then dispatched to the nearest available drivers. In its initial round of funding, Fasten raised $9.2 million, contributed wholly by chairman Evgeny Lvov. Founded in 2015 by CEO Kirill Evdakov, CMO Roman Levitskiy and COO Vlad Christoff, Fasten was first launched in September 2015 in Boston.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |