New York Post

New carpooling app Ride is fueling up

- By JOSH KOSMAN jkosman@nypost.com

A big Uber backer is putting money behind another ridesharin­g service.

Ride, a new mobile platform for carpooling, is getting another big investment from majority owner TPG Capital. TPG’s growth fund is raising $ 3 billion and counts Ride as one of its biggest investment­s.

A much older carpooling company, vRide, is behind the new mobile platform. The company has for decades worked with employers to set up private van pools forworkers.

Given the rise of Uber and the “sharing economy,” the company is getting a hightech overhaul that includes anew app and a Web site.

The Ride platform/ mobile app functions more like a business to business Uber. It enlists companies and then works to help them sign up their employees for the service.

Uber’s first chief technical officer, Oscar Salazar, has assumed the same position with Ride.

“Ride is a ridesharin­g platform for those coworkers who have a long trip towork,” CEO Ann Fandozzi told The Post. She defines “long” as more than 30 minutes inthe car eachway.

Commuters pay $ 125 a month for the service, whereby a designated driver gets a minivan with maintenanc­e and insurance included. Ride collects a 10 percent commission.

The app asks users questions about their commute— where they live and what time they leave— and pairs them with other people nearby.

Unlike Uber, Ride recruits a driver who is a volunteer rather than a paid profession­al. Users choose whether they want to be a driver or a passenger.

The service is looking to form partnershi­ps with New Yorkarea employers.

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