The Drivers Cooperative

Early Stage

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

Analytics

Raised to Date: Raised: $1,706,168

Aggregate Commitments $

Platform

Wefunder

Start Date

07/19/2021

Close Date

04/29/2022

Min. Goal

$50,000

Max. Goal

$2,500,000

Min. Investment

$100

Security Type

Revenue Share

Funding Type

RegCF

Series

Pre-Seed

Rolling Commitments $

Status
Funded
Reporting Date

05/01/2022

Days Remaining
Funded
% of Min. Goal

3,412%

% of Max. Goal

68%

Likelihood of Max
Funded
Avg. Daily Raise

$6,008

Momentum
Funded
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Location

Long Island City, New York

Industry

Business Services, Software, & Applications

Tech Sector

MarketplaceTech

Distribution Model

B2B2C

Margin

Medium

Capital Intensity

Low

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: 07/19/2021
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The Drivers Cooperative on Wefunder 2021
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Security Type: Revenue Share

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