FEMALE RIDESHARING SERVICE SHEBAH HITS SKIDS

AUSTRALIAN women-only ridesharing business Shebah has been placed into voluntary administration, with the company seeking a sale or a restructure after it was decimated by the Covid19 pandemic.

Shebah chief executive Georgina Mcencroe, a former comedian, said revenues had plummeted by 70 per cent due to school and workplace closures across Victoria and New South Wales.

Sam Kaso and Rachel Burdett of Cor Cordis have been appointed administrators to Shebah, which set crowd-funding records in 2019 when it raised $3m from 2100 investors, 94 per cent of whom were women.

She said Shebah has a pool of 1000 drivers but less than half have been active during lockdowns.

The company offers a female-friendly ridesharing service, only allowing women drivers and allowing women, unaccompanied children or men travelling with car seats to ride in its vehicles.

Financial documents show Shebah, based in Melbourne, was growing at around 8 per cent month-on-month before the pandemic hit.

Shebah boss George Mcencroe says the company’s revenues have plummeted 70 per cent across Victoria and NSW. Picture: Supplied.