Business model review CAPE TOWN December 2-7, 2018

Lean canvas model

Taxi cabs are expensive Cannot pay with a credit card PROBLEM Your top 3 problems Taxi cabs are expensive Cannot pay with a credit card Don’t know the driver SOLUTION Possible solution for each problem Door-to-door Known driver info Pay fair in app UNIQUE VALUE PROPOSITION Single, compelling message stating why you are different UNFAIR ADVANTAGE Something that cannot be bought or copied CUSTOMER SEGMENTS List your target customers and users Internet savvy Frequent trips SECONDARY 25-44 year-olds CHANNELS List paths to users Referrals Advertising KEY METRICS What numbers will give you insight Trips book Revenue per trip Users referred ALTERNATIVES How are problems solved today Public transportation Biking Own car HIGH-LEVEL CONCEPT Your X of Y analogy EARLY ADOPTERS List attributes of ideal customers COST STRUCTURE Fixed and variable costs Backend infrastructure Driver recruitment Management staff REVENUE STREAMS Sources of revenue Canceled rides

Difficult to find a cab when you need one Taxi cabs are expensive PROBLEM Difficult to find a cab when you need one Taxi cabs are expensive Cannot pay with a credit card Don’t know the driver SOLUTION Guaranteed pickup Door-to-door Known driver info Pay fare in app UNIQUE VALUE PROPOSITION Allows users to get from point A to B in a comfortable, safe, and reasonably priced ride with 1-click in an app that handles payment UNFAIR ADVANTAGE General dislike of taxis and public transit First mover advantage Untapped market of workers CUSTOMER SEGMENTS PRIMARY 18-24 year-olds Internet savvy Frequent trips SECONDARY 25-44 year-olds KEY METRICS App installs Account Trips book Revenue per trip Users referred CHANNELS Press/media buzz Referrals Advertising ALTERNATIVES Taxis Public transportation Biking Own car HIGH-LEVEL CONCEPT Like a taxi but cheaper, easier, faster and safer EARLY ADOPTERS High disposable cash COST STRUCTURE App development Backend infrastructure Driver recruitment Management staff REVENUE STREAMS % of base fare and idle time Canceled rides

PROBLEM It is difficult to find a cab when you need one Taxi cabs are expensive for short fares You cannot pay for fare using a credit card You don’t know the driver and no way to contact ALTERNATIVES Taxis Public transportation Biking Own car

solution Guaranteed pickup with a set time and location Door-to-door trip and saves the need to hunt for a cab Driver’s information, license plate number, photo and phone number Able to pay for the ride using your credit card

Key metrics Number of app installs and growth metrics Accounts created and active per month Number of trips booked and trips completed Revenue per trip and segmentation of riders Number of users referred by other users

Unique value proposition Allows users to get from point A to B in a comfortable, safe, and reasonably priced ride with 1-click in an app that handles payment HIGH-LEVEL CONCEPT Like a taxi but cheaper, easier, faster and safer

Unfair advantage General population is unhappy and dissatisfied with the current offering from taxis First mover advantage, first company putting forth this idea Large population of available gig workers

channels Earned media features from launching new services Press releases covering success and launching in new cities Referrals of existing users to friends Paid advertising

Customer segments 18-44 year-olds who live in developed, urban areas Internet savvy and use more than connected devices a day Travel to more than 3 destinations per day EARLY ADOPTERS Frequent online shoppers Purchases a new phone yearly Uses social media multiple times per day

COST STRUCTURE App development – salaries, patents, office Backend infrastructure – systems, servers, customer support Driver recruitment – location based staff, signing bonuses Management staff – recruitment, expenses, salaries

Revenue streams Revenue split: % of the base fare and idle time will be kept by the company Canceled rides: to recover the cost of driver’s time spent driving, a $ fee will be charged

Workshop & questions