Bounce ride-sharing service shut down, 5% staff cut
The now defunct ride-sharing service Bounce was started in 2014.
Bengaluru-based startup Bounce, which recently entered the two-wheeler market in India, has halted its ride-sharing business, according to the company. Currently, Bounce is retail only E1 . infinity electric scooter on our market for Rs 70,499 (former showroom, Delhi, after Fame-II subsidy). The Infinity E1, which has a replaceable battery, is essentially a Twenty Two KYMCO scooter, when Bounce acquires the company in October 2021.
- Bounce carpooling service stops working after 8 years
- Battery exchange network currently only works in Bengaluru, Hyderabad
Why did Bounce stop carpooling?
Bounce’s ride-sharing service has been around since 2014 and shut down last year, after experiencing business setbacks due to the pandemic. Stopping the car-sharing service meant the employees involved had to be laid off, but the company claims that they were notified in advance of the transition and most of them have already found work there. is different.
This announcement comes after rather lackluster sales of the Infinity E1. The e-scooters haven’t really started operating yet and according to the government portal VAHAN, there are only 650 registrations per month on average, with some cases dropping below 550 in some cases. . By comparison, much more expensive services like Ola S1 Pro and TVS iQube are currently hitting five-digit monthly sales.
Bounce’s battery swap network is now live in Bengaluru, where 2 million swaps are claimed to have taken place across 100 existing battery swap stations. Hyderabad is the only other city with a battery swap facility, with around 40-50 stations, but for now its availability is limited to B2B services.