409 Views

Zimride Raises $6 Million Series A

Zimride, a service that makes it easy to find people to ride-share with, has raised a $6 million Series A funding round led by Mayfield Fund. This round brings Zimride’s total funding to around $7.2 million, after a $1.2 million seed round last year that included Floodgate, K9 Ventures and Keith Rabois.

Zimride’s platform solves a common issue: helping people coordinate their carpools. It does so by helping people with spare seats — and those looking to fill those seats — get in touch with each other. Users also have the option of paying each other directly through the site.

Zimride is currently used in 120 different networks, each of which connects users belonging to the same university of business. Through the platform, students and employees can can arrange to either carpool to work/class, or to coordinate one-off rides. For example, if I were planning to drive from San Francisco to Los Angeles, I could sell each of my extra seats. Zimride’s founders say that that trip actually runs around $40 per seat — which means it isn’t tough to actually make money on those long drives. To give an idea as to how much traction the service has within each network, Zimride says that Facebook is on the platform and that 35% of its employees are using the service.

To continue reading, visit: http://techcrunch.com/2011/09/21/ride-sharing-platform-zimride-raises-6-...

0
Your rating: None

Comments

There are no posts on the Comments yet. Login to post a Comments