I’m writing this at 10,668m altitude on my way back to Istanbul from Hamburg. I wanted to quickly capture my excitement/thoughts about a couple of topics. The first one is about how we crossed 1.1$m ARR (annual recurring revenue) at the end of October, only 6 months after starting to serve our very first corporate customer. The second is about how I realized how advanced our technology is after my trip to one of Germany’s top mobility summits.
For those who don’t know us yet, Volt Lines was incorporated on October 20th of 2017. From incorporation, it took us a bit under 6 months to commercially enter the corporate shuttle bus market. A market dominated by traditional bus operators, most of which are not quite aware of the term “software is eating the world” which was coined by Marc Andreessen of a16z. (if you don’t follow their podcast, make sure to subscribe to it here).
It was on April 9th of 2018 that we won our first corporate customer — 16 subscriptions (or seats if you may) served with 3 lines. Today, just a few days after turning 1-year-old, we move 1,000 people every day, along 120 lines. If we include our late evening departures, our operation today consists of 150 lines over 5 hubs, doing roughly 2,000 trips every day. The exciting part is that we’re expected to triple that over the next 6 months. I can’t explain how pumped I am about this and its impact on Istanbul’s traffic, a problem I’ve been obsessed with solving for the past 5 years!
A major acceleration in growth came from us signing up a whole business building in Kağıthane. Most tenants in Ofishane joined us as of October 1st, including the following companies: Güven Varlık, Fibabanka, Metro Properties, Hakan Plastik, and our very own corporate/strategic VC, Hedef Filo. Here’s a drone pic of an evening departure there!
Now regarding my trip to Germany, I was invited by my friends at Wunder Mobility, a smart urban mobility software powerhouse that recently raised 30$m series B. Dubbed as Wunder Mobility Summit, these guys organized an amazing event where they brought together all the genius minds in the industry. With attendance from Tesla, BMW, VW, Moia, MyTaxi, and many mobility focused VCs, it was really exciting to look around the room and see all the pieces of the puzzle of the future of transportation under one roof.
During the event, I met amazing people and felt lucky to be surrounded by people that are much smarter than I am in smart mobility (from hardware to software). But I also noticed how unique and solid our business model is, and most importantly, how advanced and well thought our technology and service is.
Obviously, we’re only getting started and there’s a mountain of work ahead of us, but I’d like to use this blog post to celebrate small wins by thanking everyone that helped build Volt Lines in the last year and bring it this far. I now see how our go-to-market strategy and our top engineering talent helped us build a strong know-how on how smart shuttle buses and optimized single-micro-transit networks should run.
By the way, we’re in the process of closing a significant financing round bridging us towards our planned Series A in early 2019. As our growth accelerates, we’re now looking for people that are passionate about urban mobility and smart transportation. Positions that will open soon are; Data Scientists, Back-end Developers, Web-Apps Front-end Developers, Product Manager, Head of Finance, Head of Operations, and Corporate Sales Managers. We will soon have these positions published on our careers page, but feel free to comment on this blog post or DM me anywhere on social media.
Stay tuned for more news!