The Drivers Cooperative

The Drivers Cooperative

A ridehailing platform owned by workers, not billionaire founders and venture capital

A ridehailing platform owned by workers, not billionaire founders and venture capital

Overview

Raised this Round: Raised: $1,706,168

Total Commitments ($USD)

Platform

Wefunder

Start Date

07/18/2021

Close Date

04/29/2022

Min. Goal
$50,000
Max. Goal
$2,500,000
Min. Investment

$100

Security Type

Revenue Share

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Return Multiple

2.50X

Year Founded

2020

Industry

Business Services, Software, & Applications

Tech Sector

MarketplaceTech

Distribution Model

B2B2C

Margin

Medium

Capital Intensity

Low

Location

Long Island City, New York

Business Type

Growth

The Drivers Cooperative, a ride-hailing platform, is raising crowdfunding on Wefunder. The platform is owned by the drivers themselves and helps them get a larger share of the fare, and profits come back to them. The drivers also get democratic control over the decisions that impact their lives. The Drivers Cooperative was founded by the New York City drivers in April 2020. The proceeds of the current crowdfunding raise, with a minimum target of $50,000 and a maximum target of $2,500,000, will be used towards payroll for engineering, marketing, and operations teams, rider and driver marketing, and SG&A expenses. The Drivers Cooperative has over 3,000 drivers recruited to the platform and has completed 2,000 trips since its launch in May 2021.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$2,314

$0

COGS

$2,410

$0

Tax

$0

$0

 

 

Net Income

$5,455

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$8,519

$0

Accounts Receivable

$0

$0

Total Assets

$8,519

$0

Short-Term Debt

$3,069

$0

Long-Term Debt

$0

$0

Total Liabilities

$3,069

$0

Financials as of: 07/18/2021
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Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
The Drivers Cooperative 03/03/2024 Wefunder - $1,677,363 Revenue Share Funded RegCF
The Drivers Cooperative 04/28/2022 Wefunder - $1,706,168 Revenue Share Funded RegCF
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Revenue History

Note: Revenue data points reflect the latest of either the most recent fiscal year's financials, or updated revenues directly from the founder, at each raise's close date.

Employee History

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The Drivers Cooperative on Wefunder 2021
Platform: Wefunder
Security Type: Revenue Share

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Warning: according to the close date for this deal, The Drivers Cooperative may no longer be accepting investments.

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