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

A Product Market Fit Show | Startups, Founders, & Entrepreneurship

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.

Keywords
Uride, rideshare, entrepreneurship, bankruptcy, business growth, startup challenges, market expansion
Timestamps:
(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 Go
Send me a message to let me know what you think!

Kapitler

1. He launched an Uber competitor with just $3,000—& grew to $20M in revenue in 7 years. | Cody Ruberto, Founder of Uride (00:00:00)

2. Starting out in a small town (00:01:48)

3. Solving a problem he saw first-hand (00:03:49)

4. The Launch (00:06:44)

5. Expanding to Other Communities (00:13:27)

6. Surviving (00:21:54)

7. The Demand Curse of Ride Sharing (00:29:18)

8. One piece of advice (00:39:46)