AUSTIN, Texas, May 3, 2021 /PRNewswire/ — The largest motorcycle sharing marketplace, Riders Share, announced today that bikers can now pay a monthly subscription for discounted rides across the motorcycle rental marketplace. The Rider Pass subscription pricing plan is an industry-first service for peer-to-peer rentals designed to spur growth and motorcycle ridership as the economy rebounds.
Launched in 2018 by CEO and avid motorcyclist Guillermo Cornejo, Riders Share has powered over 100,000 registered users in its motorcycle rental community, and over 15,000 people have shared their motorcycle on the platform. The company was part of Techstars Los Angeles ’19, and is backed by Texas-based LiveOak Venture Partners and other institutional investors.
The average price for renting a motorcycle on Riders Share is set by the owners of the bike and is typically around $100 a day including insurance – much more affordable than other motorcycle rental alternatives. Now, with the Rider Pass subscription, users will receive an additional 35% off the total price in exchange for a monthly rate of $24. “We believe subscriptions are key to continued growth in peer-to-peer rentals,” said Cornejo. “There’s an entire market of twenty million plus ex-riders who are bikeless; our goal with subscription services is to provide an economic re-entry point to stimulate responsible ridership across the country.”
Motorcycles are notoriously underutilized in the US. On average, motorcycles are used 4x less than cars, which has a significant effect on the total cost of a motorcycle trip. In fact, for the large number of motorcyclists that ride under 40 days per year, each trip costs an average of $190 in ownership costs. “Peer-to-peer rentals typically cost up to seventy percent less than brick and mortar motorcycle rentals. With our new subscription offering, we’re now able to further reduce this cost, giving people that can’t commit to motorcycle ownership a viable alternative,” said Cornejo.
Riders Share has been recognized as an industry-leader in terms of vehicle selection, marketplace members, and low cost. While COVID made a significant impact on travel in general, Riders Share is beginning to see new records in transactions. “Our mission is to encourage safe motorcycling by making it more affordable,” said Cornejo “We felt the time was right to further diversify our pricing model and help people create new mobility habits as our cities start moving again.”
The Rider Pass subscription model is only available for riders over the age of 25 and with a FICO of over 700. Free delivery is included up to $50. The base monthly subscription price is $24 with a 12-month term, or $22 per month if prepaid in advance.
About Riders Share
Riders Share, is the world’s largest peer-to-peer motorcycle marketplace platform, matching underutilized motorcycles with vetted riders that want to rent them. Riders Share leverages machine learning to vet riders, provides an insurance policy for owners and offers roadside assistance. With over 100,000 registered users, Riders Share offers the largest variety of motorcycles available to rent in the world, all while providing a superior experience for renters and an extra source of income for owners.
About LiveOak Venture Partners
LiveOak Venture Partners is a venture capital fund based in Austin, Texas. With 20 years of successful venture investing in Texas, the founders of LiveOak have helped create nearly $2 billion of enterprise value. While almost all of LiveOak’s investments begin at the Seed and Series A stages, LiveOak is a full life cycle investor focused on helping create category leading technology and technology-enabled service companies headquartered in Texas. LiveOak Venture Partners has been the lead investor in over 30 exciting high-growth Texas-based companies in the last seven years including ones such as CS Disco, Digital Pharmacist, OJO Labs, Opcity and TrustRadius.
964 Springdale Rd Austin TX 78702
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SOURCE Riders Share Inc