80K E-Scooters and Profitable - Inside RYDE’s Winning Micromobility Formula

The Micromobility Podcast

In this episode of the Micromobility Podcast, host Prabin Joel Jones speaks with Tobias W. Balchen, CEO of RYDE, discusses the journey of the company from its founding in Norway to becoming the largest operator in the Nordic micromobility market. He shares insights on the business model, profitability strategies, pricing dynamics, operational challenges, and the importance of software development and customer experience.

Takeaways

• Ride is the largest operator in the Nordics with over 80,000 e-scooters.
• The company has focused on profitability from day one, avoiding heavy reliance on venture capital.
• Ride's in-house operating model contributes to quality service and cost management.
• The lifespan of e-scooters has increased significantly, impacting unit economics positively.
• Pricing strategies are crucial, with a focus on affordability to attract users.
• Seasonal adjustments are necessary, with operations varying by city and weather conditions.
• Software development is key to enhancing user experience and operational efficiency.
• Regulatory compliance is a significant challenge in the micro mobility industry.
• Ride is exploring in-house hardware development while currently using off-the-shelf solutions.
• The future of shared micromobility looks promising with potential for large operators to emerge.

Chapters

00:00 Introduction to Ride and Its Journey
01:57 Founding Story and Business Model
04:04 Growth and Expansion in the Nordic Market
06:32 Profitability and Cost Management Strategies
09:12 Operational Challenges and Seasonal Adjustments
11:23 Unit Economics and Asset Lifespan
13:36 Technology and Software Development
16:00 User Experience and Customer Loyalty
18:16 Regulatory Environment and City Partnerships
20:27 Future of Shared Micromobility
22:35 Conclusion and Vision for the Future