Joco's Comeback: From Near-Death to Profitable E-bike Delivery Service
2024-12-28
Joco, an e-bike sharing startup, launched in NYC in 2021 and nearly failed. Initially aiming to compete with Citi Bike, a lawsuit from the NYC Department of Transportation forced a pivot to last-mile delivery services. This proved pivotal. Joco now provides rentals, maintenance, battery-swap cabinets, and community hubs offering riders rest and charging. They've achieved profitability, partnering with major logistics firms like Grubhub across New York, Chicago, and Miami. Their success stems from customer-centric service, exceeding expectations, and financial prudence—avoiding early marketing spend.