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More Bike-Sharing: Alphabet participates in funding round for Lime | PitchBook

Yesterday, Lyft joined Uber in the bikesharing business, and today Alphabet follows suit. Lime, which has placed bikes in dozens of U.S. and European cities, will be teamed with Waymo, Alphabet/Google’s autonomous car business to provide multi-modal transportation services. The round totals $300 million and values the company at $1.1 billion. The “adjacency phenomenon” is […]

Yesterday, Lyft joined Uber in the bikesharing business, and today Alphabet follows suit. Lime, which has placed bikes in dozens of U.S. and European cities, will be teamed with Waymo, Alphabet/Google’s autonomous car business to provide multi-modal transportation services. The round totals $300 million and values the company at $1.1 billion.

The “adjacency phenomenon” is a useful construct for understand gig companies. At scale, on-demand companies will roll up more services to increase ARPU by providing adjacent services, such as bikes to ridesharers or yard work to housekeeping customers. In all these setting, the sales problem becomes more complex, intimate — because the customer’s daily habits become the basis for new service offerings — and, less susceptible to purely technical solutions for selling.

Source: Alphabet participates in funding round for Lime | PitchBook

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