The Bike Sharing economy has a new entrant in the form of Free bicycle share. The perfectly named New York based ride sharing service will enter a bike share market of competitors such as The Bird, Limebike, JUMP and Citibike.
Free launches their shared mobility service via a Kickstarter campaign. The market is ripe for the competition as the New York based Citibike has had a total of 250,000 annual members along trips as high as 53,000 trips made per day.
The Kickstarter campaign hopes to raise over $100,000 or more in pledges which include selling bikes directly to owners. The Owners will then have the chance to choose whether to place thier bike on the Free Platform.
The funds will go on to the first dockless smart bicycle which gives you more access, less hassle, and a share of the profits your bike makes.
The Free Bicycle
The Bright red bike has been suitably designed for all the conditions a bike of its kind should be able to endure: Lightweight + rustproof frames, adjustable Seat, Smart lock, airless tires, mudguards and alloy based wheels.
The Free Bikeshare Model
The Free Platform has two agents, Each Bike has an owner and people who use the bikes are known as Users. The Platforms provides owners with the opportunity their bikes to be used as shared bicycles by the general public, allowing them to earn a profit on a per-ride basis while giving them free access to every other Free bike on the platform.
Free’s major aim is to :
build a vehicle sharing platform around true shared mobility and economy by democratizing vehicle share. By bringing together a high quality bicycle and combining it with a smart, connected system, Free has developed a peer-to-peer bike sharing service that allows owners free access to every bike on the network and a way to monetize their personal bicycle.
The company offers its users the opportunity to become apart of a unique Distributed bicycle model.
Jack Dagmy, founder and CEO of Free, said, “that the Kickstarter community made the perfect incubation site for a platform meant to distribute the ownership of shared vehicles.”
Free Incs Kickstarter campaign runs until August 1st, bicycles will then be available for purchase both online and via the Free mobile apps.
Sign up for their Newsletter and gain 2 Free Rides or Learn more about Free at freemobility.co.
What are your thoughts on this new entrant to the Bike Sharing Market? Share your thoughts in the comments section below.