Every so often, we hear of companies making an entrance into the rideshare industry in the quest to take on Uber. As a pioneer in ridesharing, Uber has enjoyed enormous success in almost every market it has launched in. The Uber business model for operating a ridesharing business has been copied by many other budding companies. The model seems to work as evidenced by the company’s growth over the years. Now, Bounce Rideshare has its sights set on taking on Uber.
More About Bounce Rideshare
Founded by Mike Potter, Bounce was created in 2016 and currently operates in San Diego alone but with hopes of expanding soon. An interesting fact to note about Bounce Rideshare is that Mike Potter had in time past successfully litigated civil and employee rights.
What Drivers should know about Bounce
Although it is a rideshare company like Uber, Bounce is doing things differently when it comes to its drivers. Bounce will be compensating drivers a little differently from other traditional rideshare companies. The company will be taking into account how much time drivers spend on the road, how well they promote the company and for how long they have been driving for the company.
Bounce is offering the following incentives to drivers:
- 75% of what the passenger pays minus the booking fee, with a minimum fee of $4
- Royalties for drivers and riders referred directly and indirectly (This is more detailed and mind-blowing and will be explained to drivers upon signup)
- Royalties that come in even when you are no longer an active bounce driver
- 1000 stock options when they sign up with a 25-month vesting schedule
The list above is by no means exhaustive and frankly a big reason to sign up to drive with Bounce. Many have compared the compensation package to a pyramid scheme. We will let you be the judge of that.
Although Bounce doesn’t destination filter like Uber, it lets drivers know how many miles the rider will be going.
What Riders should Know
To use the Bounce Rideshare service:
Riders have the option of adding drivers to their list of “favorite drivers”. This does not guarantee that they will always be matched with favorite drivers but Bounce seems committed to making this happen.
- Booking fee – $2.24
- Per Mile – $1.15
- Per minute – $.15
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