Hardeep Singh
In a country like India, where traffic lights are more commonly a flashing red than a calm green, and where there is more honking than the breeze. Bounce has possibly the best idea of making your daily journey a little less stressful and useful.
Bounce is one of the most modern ventures that leases out scooters to anyone who:
- Has a license
- and a cell phone.
About Bounce and How It Works
All you actually need to get started with the Bounce administration is a cell phone, because where else might you receive an OTP? An OTP would assure the Bounce team that you need to rent one of their bikes and be on your way. The helmet is another interesting service provided by Bounce. Carrying that heavy headgear all the way to the store or workplace is a nightmare. As a result, Bounce places helmets for its clients’ safety.
If you need to visit a nearby park or see a movie at a nearby theatre and are concerned about whether you will get your luck in the parking lot or if you have enough gasoline in your car, Bounce it onto the BOUNCE Scooters nearby. Bounce does not charge for petrol; you read it correctly. The payment is based on the distance and time traveled. Tolls start at 5/KM and go up to 0.5/Min.
After finishing your ride and arriving at your destination, just exit the app and keep the scooter in a Bounce Zone, which is available in various parts of the city. You may also use the Pick and Drop option on Bounce.
Founders and Team
Anil G, Varun Agni, and Vivekananda Hallekere established Bounce.
Varun Agni
Varun Agni is Bounce’s Co-founder and Head of Products and Technology. Varun Agni studied at the University of Maryland, where he obtained a Master’s degree in Telecommunication after completing his Bachelor’s degree in Engineering at the RV College of Engineering in Bangalore.
Anil G
Bounce’s co-founder and COO is Anil G. He has spent a significant amount of time (almost 4 years and 4 months) with Bharat Electronics, where he was later promoted to the position of Assistant Manager – Account and Finance. Anil G then became the Finance Head of American Tower, after which he assisted in the establishment of Bounce in 2014.
Vivekananda Hallekere
Bounce’s Co-founder and CEO is Vivekananda Hallekere. He holds a Chartered Accountant degree from the Institute of Chartered Accountants of India, which he obtained after completing his Bcom. He most recently worked as an Audit Assistant with Chartered Accountants Badari Madhusudhan and Srinivasan. After just three years at the previous business, Hallekere joined BSR and Co. and afterwards proceeded to Suchindra and Vivekananda, where he worked as an Executive and a Partner independently before launching Bounce.
Startup Story
However, while Bounce is the moniker by which we are familiar with the bike rental stage, Bounce was not titled in this manner, nor was Metro Bikes the name of the firm. The founding trio founded Wicked Ride as a superior bicycle rental platform, which ultimately became the parent company of Bounce.
The idea for Wicked Ride arose from a situation in which Anil sought a Royal Enfield and had to wait almost a year to obtain the same delivered. This made the creators worry about the acquisition of bicycles and the delay that clients must face while looking for a top-of-the-line bicycle. They therefore believed that a high-quality bicycle, such as a Hayabusa or a Harley-Davidson, costs so much and is delivered so late that it is better to lease a bicycle than to buy one.
After a test stage in September 2018, the group began to provide daily drive bicycles under the moniker “Metro Bikes,” which was then renamed Bounce.
Business and Revenue Model
Bounce is a two-wheeler rental company situated in Bengaluru, India. It is now the most affordable bicycle rental platform, charging Rs 5 per kilometer and Rs 0.5 per minute. As a result, it is unquestionably practicable as a mode of transportation. When compared to an autorickshaw, Bounce’s rates are significantly lower.
According to the organisation’s pricing model, the cost of petrol is estimated to be Rs 1.75 – Rs 2 per kilometer, while the cost of maintenance is estimated to be Rs 1.5 per km. This amounts to more than Rs 4 per kilometer at that stage. As a result, if another organisation charges more than Rs 4, that is an advantage to them.
However, the company is seeking to reduce its costs further by using electric motorcycles, the first of which was completed on December 2, 2021. The E1 versions of the Infinity range of motorcycles are equipped with removable batteries and will be available for hire soon. These bikes will substantially contribute to enhancing the advantages of Bounce, lowering the whole cost to Rs 0.5 per kilometer. This will basically force them to charge Rs 3 per kilometer, which will still allow Bounce to profit from it.
Startup Challenges
“The true fundamental mobility is merely available to a particular few,” says Bounce organiser Vivekananda, and “Bounce is seeking to transform that in a significant manner,” he adds, which is very challenging.
Future Plans
Bounce’s future objectives revolve around improving the organisation’s finances, increasing income, and broadening its areas of activity. The business dispatched its most noteworthy electric bike, the Infinity E1, as would be expected to support the organisation in further increasing its earnings since it carries swappable batteries to the market. These interchangeable batteries have reduced the market price of the Bounce bike by around Rs 36,000.
Conclusion
Bounce is a dockless bike ride-sharing service in India that aims to make daily driving more dependable, affordable, and useful. If you will travel with your companions or just drive to your workplace regularly at the most reasonable rates, try to obtain the bikes and pave your own way. Similarly, it’s nice to appreciate life by doing all you need on a tight budget; after all, saving goes a long way.
