COMPANY PROFILE
Quick Facts:
> Bike sharing continues to gain momentum, with more than 360,000 bikes available through bike sharing programs worldwide.
> The global emergence and growth of the “sharing economy” has created a significant opportunity for companies like Zagster based on the principle of multiple users sharing a single asset.
> Personal mobility is positively influenced by bike sharing, as evidenced by a 5% reduction in Paris traffic in the first year of its city-wide bike sharing program.
Zagster
Zagster is a bike sharing company that provides a complete bicycle rental solution targeted primarily to the private sector. The company is targeting a national rollout of its turnkey solution aimed at the hospitality, real estate, and employer markets. Zagster allows these customers to offer value-added services and benefits to tenants, guests, and employees.
Zagster’s members are able to use their mobile phone to unlock a bike at the time of a rental. The same lock can then be used to lock the bike during the trip, something that most city-wide programs do not allow because their bikes must be locked at docking stations with high capital and maintenance costs. At the end of a trip, the member returns the bike to the original location, ends the trip via a mobile phone, and re-locks the bike.
Zagster’s solution is complementary to existing municipal bike sharing programs and extends bike sharing to market segments not otherwise served by these programs. Due to increasing urbanization, more vehicles on the road, aging infrastructure, and budgetary challenges for governments, mobility technology has become increasingly advanced and important, and innovative solutions like Zagster’s contribute to a more efficient personal mobility landscape.
