He launched an Uber competitor with just $3,000—& grew to $20M in revenue in 7 years. | Cody Ruberto, Founder of Uride episode artwork

EPISODE · Sep 30, 2024 · 40 MIN

He launched an Uber competitor with just $3,000—& grew to $20M in revenue in 7 years. | Cody Ruberto, Founder of Uride

from A Product Market Fit Show | Startup Podcast for Founders · host Mistral.vc

Cody started a ride-share business in 2017 with no capital. He focused exclusively on small towns (population <100K) where Uber/Lyft weren't available. I know as a VC I would've passed if he'd pitched me when he started—and I would've been dead wrong.So far he's raised only $2.1M, compared to Uber's $30B+ raised. And yet, he built a business doing $20M+ in annual revenue that is live in a dozen markets and multiple countries. At one point, he came weeks away from bankruptcy when ride-share froze during the early days of COVID. He goes through exactly what he did to survive—and to grow well beyond where he was pre-COVID just a year after.If you're bootstrapping or competing with better funded players, check this episode out. Why you should listen:Why even massive competitors often don't mean you can't build a business.How to hack your way to millions in revenue with no budget.Why customer service and success are the keys to unlock word-of-mouth.How to survive 3 weeks of cash and near-bankruptcy.KeywordsUride, rideshare, entrepreneurship, bankruptcy, business growth, startup challenges, market expansionTimestamps:(00:00:00) Intro(00:01:48) Thunder Bay Ridesharing(00:03:49) A Problem that Shouldn't Exist(00:06:44) The Launch(00:08:15)  Growing and Outgrowing(00:10:50) A Bylaw Loophole(00:13:27) Expanding to Other Communities(00:17:05) Three Phases(00:21:54) Surviving(00:29:18) The Demand Curse of Ride Sharing(00:34:09) Unride Focus(00:39:46) Long Ways to GoSend me a message to let me know what you think!

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Cody started a ride-share business in 2017 with no capital. He focused exclusively on small towns (population <100K) where Uber/Lyft weren't available. I know as a VC I would've passed if he'd pitched me when he started—and I would've been dead wrong. So far he's raised only $2.1M, compared to Uber's $30B+ raised. And yet, he built a business doing $20M+ in annual revenue that is live in a dozen markets and multiple countries. At one point, he came weeks away from bankruptcy when r...

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He launched an Uber competitor with just $3,000—& grew to $20M in revenue in 7 years. | Cody Ruberto, Founder of Uride

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