historical ridesharing trends and market potential
DESCRIPTION
This presentation was given by NuRide CEO Rick Steele at the MIT Real-Time Rides Workshop in Cambridge, MA on April 16, 2009.TRANSCRIPT
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Historical Ridesharing Trends and Market Potential
Rick Steele, CEO, NuRide, Inc.
MIT Real-Time Rides Workshop
Cambridge, MA
Apr 16, 2009
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Houston, TX
San Antonio, TX
New York + CT
Washington DC Metro
Hampton Roads, VA
41,000 members / 2.5 million trips / $1.5 million in rewards / 200 sponsors
~5,500 people take a NuRide trip each day
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Ridesharing Has Not Been a Technology Problem
1970 1980 1990 2000 2010
?
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Database Density
Pro
bab
ility
(%
) o
f M
atch
Fin
d s
om
eon
e g
oin
g m
y w
ay
wh
o m
atch
es m
y cr
iter
ia
wh
o is
mo
tiva
ted
to
rid
esh
are
rig
ht
no
w!
Ridesharing is a Database Aggregation Problem
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Sharp Increases in Gas Prices Periodically Provide Motivation
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36%13% ($2.25)
150%
Gas prices Cost of daily commute Demand for ridesharing
Daily cost to drive to work
Jan 27, 2008 - $17.39
Jun 30, 2008 - $19.64
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Periodic Motivation Doesn’t Result in a Sustainable Database
Match is made.2 people leave database.
No match available.1 dissatisfied person leaves the database.
Gas prices motivate person to join database & find match
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People Fall Into Patterns
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Rewards Break People Out of Patterns
# of People Traveled With
Rewards Structure
Same rewards regardless of
number of travelers
Rewards increased with more travelers
2.8
# of Passengers in Vehicle
1.0
1.5
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Rewards Increase Motivation & Loyalty
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Mar-08 May-08 Jul-08 Sep-08 Nov-08 Jan-09 Mar-09
NuR
ide
Mem
ber A
ctivi
ty
Houston Washington DC
Rewards Directly Impact Activity
Houston – good rewards
Washington DC – poor rewards
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Need match
Active Members in Ridesharing Database
Found one Thanks for match, bye!
Rewards! I’ll stick around
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