Startup Feature: Whizz 🚲

In the bustling metropolis of New York City, the cultural melting pot is both vibrant and challenging. Amidst the beautiful diversity, the struggle for survival adds a distinctive note to the melody, particularly with a rising poverty rate. Immigrants and US natives alike flock to the city, seeking employment opportunities, leading many to turn to the gig economy for independent contracting. However, e-bikes, commonly used by food delivery workers in the traffic-packed landscape, have become increasingly challenging to acquire due to surging prices.

Founded and launched 2 years ago by co-founders Alex, Ksenia, and Artem, Whizz is making the gig economy accessible to everyone who wants a piece of it with a subscription based e-bike rental platform. Mike later joined as an investor and advisor, and converted to CEO and co-founder to lead the team. Inspired by his own struggles, Mike and his team have significantly lowered the financial barrier to entry for gig workers, and they’re making it sustainable by using electric mobility, eliminating the need for workers to travel in gas-powered vehicles and adding to the already congested city streets.

However, Mike is forward thinking in the sense that he believes electric vehicles are a commodity - the adoption rates will rise and people will transition away from four wheel ICEs to two wheelers in urban settings. Thus, his mission with Whizz is not sustainability, but to provide immigrants (like himself) affordable ways to sustain a living. Instead of a worker needing to purchase a $1600+ e-bike to get into the gig workforce, they can set up a long term e-bike rental plan with Whizz for a fraction of the price. Mike and his team knew that their competitors were lacking in affordability and quality, and that the unit economics of sharing were poor, so they jumped at the opportunity to address the market gap.

Here’s a few key points about Whizz’s competitive platform:

With the recent downturn of the micromobility market, what does Whizz’s future look like?

Mike believes that the efficiency of e-bikes and other forms of small scale electric transport have an inherent advantage over traditional vehicles for the gig economy. It doesn't make sense to move small goods that weigh a few pounds in a 3 ton gasoline car, and regions like Europe and Asia have recognized this for a while - the US is lagging behind. 

There are also some unique factors to consider when it comes to thriving in the industry.

Mike and his team recognize that the government will always move slower when it comes to the private sector - this is true in many industries, particularly aerospace. But it also rings true for micromobility in terms of equipment regulation, safety legislation, and building out viable infrastructure. Another universal truth is that the geopolitical climate has huge effects on business operations. The relationship between the US and China is crucial in maintaining a steady manufacturing, distribution, and supply chain system.