Bounce Scooter Share

Bounce Scooter Share, or simply Bounce, is an Indian smart mobility company, and the operator of the only dockless self-drive scooter service in India. The company’s fleet uses a patented keyless technology which lets a user pick up the nearest Bounce scooter and drop it off at any legal parking zone near their destination. The company offers its dockless scooters for hire in Bengaluru and Hyderabad, and docked scooters in smaller cities like Belgaum, Mysore, Hubli, Hassan and Vijayawada.[1][2]

History

Bounce’s parent company, WickedRide Adventure Services Pvt. Ltd., was co-founded in 2014 by Vivekananda Hallekere, (CEO and co-founder) Anil G, (COO and co-founder) and Varun Agni (CTO and co-founder),[3][4] initially as a luxury bike rental service under the name, WickedRide. The company claims that it was the first and the largest luxury bike rental company in India. In 2016, they launched Metro Bikes, to provide last and first mile connectivity to people looking to use public transport or to commute within the city. In September 2018, after a beta stage, they renamed this service to Bounce and with a fleet of 200 scooters introduced a dockless and keyless bike sharing service to the city of Bengaluru.[5]

In 2019, they launched operations in Hyderabad with 2000 dockless scooters and plan to introduce electric scooters to the market soon.[1] In March 2020, Bounce claims to have started doing more than 130,000 rides a day and to have clocked more than 10 million rides since inception in September 2018.[6] The company also claims to have grown into the world's fastest-growing bike-sharing start-up.[7]

In January 2020, Bounce raised ₹692.39 crore (approximately USD 92 million) in a Series D round led by Facebook co-founder Eduardo Saverin’s VC fund B Capital, and is currently valued at over USD 520 million.[8]

Ofo acquisition

In 2018, the company took over assets of Chinese bike-sharing unicorn Ofo in India. With this acquisition, Bounce claimed to explore new verticals and deepen its presence in the mobility space.[9]

Integration with mass rapid transport

In 2019, Bounce won a competitive bid to provide its dockless scooter-sharing service at the railway stations in Karnataka.

The company introduced its operations across 13 Bengaluru railway stations and helped passengers in the city with first and last-mile connectivity.[10]

References
  1. "Bounce enters Hyderabad with dockless scooters". @businessline. Retrieved 2020-07-13.
  2. "Bounce - Self Drive Bike Rental | Rent A Bike". bounceshare.com. Retrieved 2019-07-30.
  3. Urs, Anil. "Wicked Ride launches utility bike rental service". @businessline. Retrieved 2020-07-13.
  4. Patwa, Prasannata (2020-01-24). "This Motorcycle Lover Turned His Passion Into Business". Entrepreneur. Retrieved 2020-07-13.
  5. Srinivasan, Supraja. "Metro Bikes rebrands itself as Bounce post Rs 84-crore funding". The Economic Times. Retrieved 2020-07-13.
  6. "Deal Street: Bounce Raises $6.5 Million In Debt Funding, Chqbook.com Gets $5 Million". BloombergQuint. Retrieved 2020-07-13.
  7. Abrar, Peerzada (2019-07-31). "Bengaluru's Bounce becomes world's fastest-growing bike-sharing start-up". Business Standard India. Retrieved 2020-07-13.
  8. "Accel, B Capital lead Series D funding round in Bounce". VCCircle. 2020-01-23. Retrieved 2020-07-13.
  9. "Bounce Buys Chinese Bike Rentals Startup Ofo's India Assets". Inc42 Media. 2018-11-27. Retrieved 2020-07-13.
  10. Abrar, Peerzada (2019-12-27). "After metro, Bounce's scooters to be available at railway stations". Business Standard India. Retrieved 2020-07-13.
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