Question 1

Hello. What are your revenue goals for the next 5 years?

Accepted Answer

Revenue goals for the next three years. Year 1: $502,000, Year 2: $3.9M Year 3: $12M (We've found that projecting 3 years out is more realistic than projecting 5 years out)

Question 2

what is your exit plan for safe investments? do you have a set goal date or are you planning for a buy-out by Airbnb?

Accepted Answer

Hi Josiah - we are looking at a 3-5 year exit/acquisition by a major hospitality brand, commercial real estate company, or a company similar to Airbnb.

Question 3

Hello, I think you're onto something - some quick questions: What is your current revenue from launch, burn rate, and cash runway assuming you raise your goal? Additionally, how do you justify a $5.5 valuation cap? Thanks for taking the time and answering what you can!

Accepted Answer

Hi Joshua - thank you for the great questions. In terms of revenue, we are under the $2,500 a month mark simply because we are only operating 20-36 scooters depending on the month. Our monthly revenue does project to increase as we launch more product and work with more Airbnb hosts. Our current burn rate is $1,000 a month which includes all software fees. While our founding team is full-time, we are not currently taking salaries. We would start that on the completion of our raise. Cash Runwa...

Question 4

Whats the revenue share with the vacation rental owners? Any plans on having them co-invest in the scooters upfront cost? Whats the bottleneck to scaling, covid19 travel restrictions?

Accepted Answer

Hi Kangze - the vacation owners keep 90% of the revenue. We charge a flat SaaS fee per vehicle. Yes, we just flipped our business model so now the property owner would pay upfront for the scooters or use our buy now pay later option. This has freed up our bottleneck and will allow us to scale much faster. The other bottleneck is the manufacturing of scooters and bikes which was severely disrupted because of Covid. We are now just starting to see these manufactures get the parts they need to p...

Question 5

Hi Madison, what’s the rental fee for the guests? At 500 scooters you are projecting a $1mn ARR; or $166 per month per scooter. Could you please breakdown how much of that $166 is from fixed fee payment from Hosts and take-rate from Guests. Thank you!

Accepted Answer

Hi Aksh - we are projecting $1M ARR when we hit 660 assets on our platform. We charge $80 a month per asset on our platform (fee to hosts). We then take 10% of all rental revenue.

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