The Drivers Cooperative

The Drivers Cooperative

Closed: Apr. 2022

About this raise

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.

Expand

Investment Overview

Invested this round: $1,706,168

Deal Terms

Total 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

Series

Pre-Seed

SEC Filing Type

RegCF    Open SEC Filing

Return Multiple

2.50X

Company & Team

Company

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
Company Website
Visit Website

Team

Employees
7
Prior Founder Exits?
No
Founder Name
Ken Lewis

Financials

 Revenue
$2,314
 Monthly Burn
Profitable
 Cash on Hand
$8,519

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

Create a free account today to gain access to Kingscrowd analytics and financials.

Upgrade to gain access

Pay Monthly
Annually (2 months free)

Edge

$12.50 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific Kingscrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.

Company Funding & Growth

Funding history

Close Date Platform Valuation Total Raised Security Type Status Reg Type
03/04/2024 Wefunder - $1,677,363 Revenue Share Funded RegCF
04/29/2022 Wefunder - $1,706,168 Revenue Share Funded RegCF
Create a free account today to gain access to Kingscrowd analytics.

Growth Charts

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

Founders: enhance your startup's credibility on Kingscrowd. Create an account to claim this raise page.
Add to portfolio
The Drivers Cooperative on Wefunder 2021
Platform: Wefunder
Security Type: Revenue Share

Follow company

Follow The Drivers Cooperative on Wefunder 2021

Buy The Drivers Cooperative's Deal Report

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

The Drivers Cooperative Deal Report

Get Kingscrowd's comprehensive report on The Drivers Cooperative including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether The Drivers Cooperative is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise

Buy the The Drivers Cooperative deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge