Splash LA 2012 Top 10 Finalist - RidePal

Kristin Karaoglu · August 24, 2012 · Short URL: https://vator.tv/n/2972

Check out RidePal's pitch at Splash LA 2012

Splash LA finalist RidePal aims to connect companies and commuters with bus carriers to provide
a comfortable, reliable, convenient and productive commute in state of the art buses with wi-fi. Here's a video of Nathalie Criou presenting.

RidePal is a service that provides state-of-the-art commuter buses equipped with Wi-Fi to pick up and drop off employees.  Businesses can share the cost with employees or take on the full cost themselves to expand their recruiting reach and retain employees.  Businesses and riders only pay for the capacity they need.

Do you want to present on stage in front of 350 high-tech influencers and try your shot at being Splash SF September Winner? Splash is free to enter. And, it's great marketing and exposure, along with some fun prizes, like sit-down meetings with VCs, an Apple iPad, free legal and accounting consultations, and more.

Even though success is not defined by how much money a company has raised, past Vator winners, such as ThumbtackGetableGrovo, Astrid, Udemy, and Geeklist have gone on to raise millions of dollars collectively from venerable VCs, soon after presenting.

Here's some testimonials: 

"The process of inviting everyone one we knew to vote for us, even before the event, was a fantastic way to build support for our company. Then presenting at Vator Splash was a blast. The short presentation style ensured the audience was engaged and the follow-up questions from the judges were on-point and constructive. At Vator Splash, I made great connections with a number of investors and had a number of follow-up meetings. We were able to raise our last round entirely from investors who discovered us from the publicity we generated from Vator Splash," said Jon Paris, CEO and founder of Astrid.

"Working with Vator, and Bambi, is a pleasure. She's really passionate about uniting great ideas with the right people. We actually tied for first in last years Vator Splash SF and as a direct result raised $150,000 from an investor who saw us pitch. TEEC Angels approached us right at the event and invested soon thereafter. Reuben Katz, CEO and founder of Geeklist.

"Vator has acted as a launchpad for my startup in terms of awareness and exposure. As a winner of a Vator competition, my startup enjoyed early traction and buzz. Vator has kept my business relevant in the minds of investors, entrepreneurs and potential employees. I've made many invaluable connections to the investor and entrepreneur community." Tim Hyer, founder and CEO, Getable

"DogVacay.com won Vator Splash LA in June 2012. The competition allowed us an opportunity to meet and pitch against some of the great Los Angeles startups and further foster our entrepreneurial community. There was such a positive energy with so many great minds providing insightful feedback throughout the night. Two paws up, Vator!"  Aaron Hirschhorn, founder & Top Dog, Dog Vacay

"Events like Vator Splash are critical for startups to generate awareness. We were a top 10 finalist for Splash LA. It provided us with an amazing opportunity to network and gain exposure to a whole community of investors and VCs. Soon after, we raised $3M as a result of the momentum/exposure from the event and the platform in general." Peter Vogel, founder of Plink.

Join the Splash competition here.

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Kristin Karaoglu

Woman of many skills: Database System Engineer; SplashX event producer; Author of Startup Teams

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RidePal

Startup/Business

Joined Vator on

Provide a flexible, social, enjoyable and eco-friendly commute through time-shared wi-fi enabled shuttles.

Businesses or riders only pay for the capacity they need.

Riders get convenient commuting options and put their commute time to use. RidePal makes commuters happier.

Companies can extend their recruiting range, better retain employees and increase productivity. There is a diminushing return after a few buses, which can be reduced if buses are shared.

Also the more buses the more overhead in managing the program. Google has a full time team of several people to manage the program. For other companies, this was the reason why they dropped the program.

Transportation companies achieve more revenue and efficient utilization of their vehicles.

Market Size

Total Addressable market in the US is $1bn in revenue across all top 20 markets (> $500M in profit) -

We believe that there is also an opportunity internationally

Other trends that are helpful (see LA deep dive in uploaded documents, private space)

  • Companies organized in clusters (usually by vertical)
  • Residential areas organized in clusters too (societal change, people tend to gather up with like-minded people, similar education background, similar professional aptitude, etc...)
  • outdated public transportation networks and very expensive to adapt. Not matching current commuting patterns
  • Huge traffic issues
  • A lot of alternative transportation models already deployed in those areas and are changing people's driving habit, showing that the idea that 'Americans just want to drive' may be no longer true
  • Prioritized market and urban areas based on these configurations, usually leading to very congested roads + total number of commuters that drive alone to work today
  • We have already received inquiries from Atlanta, Denver and Los Angeles
  • Urban areas with these characteristics represent $1bn in revenue for RidePal sustainably

 

Customer Problem: Companies have a hard time recruiting remote top talent because of a long Commute. They pay a 20% premium on salaries to compensate, or become a high cost transportation agency to remain competitive. Commuting is the daily task most injurious to happiness for people and present serious health risks. This forces people to make suboptimal personal and professional decisions.

 

Product/Services: RidePal pools demand across companies for shared buses with a turnkey solution. Using real-time ridership data, its route planning technology keeps the routes relevant and efficient for both riders and transportation companies. Social features personalize the experience and build tight communities around each shuttle. Ancillary services organized around RidePal hubs and buses increase loyalty and profitability.

 

Sales/Marketing Strategy: Seed: direct to Premium Plan companies as anchor  to cover Bus Minimums – neighboring companies on Professional Plan to ride along. There is therefore no need for companies to collaborate, they sign up with RidePal to buy seats or Rides as a professional plan, and Premium can create routes (and easily share cost with employeesm later further discounting themselves as they accept to share their shuttles). Create pull among Riders. Scale: Viral nature of product, HR  outsourcing/recruiting firms.  Distribution via WageWorks and CommuterChecks, on-bus branding, online advertising, local radio, word of mouth, online and social advertising and earned media.

 

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Nathalie Criou

Joined Vator on

Co-Founder and CEO of RidePal - Google Shuttles for the rest of us