How Does Yulu Make Money?

Q: What Are Yulu Riding Charges?

Charges for Yulu Move are about Rs.10 for the first 30 mins then Rs. 5 for every next 30 mins and for Yulu Miracle Rs. 10 for starting the ride and then Rs.10 for every 10 mins.

Q: How to unlock Yulu?

Yulu can be unlocked either from the QR code or by entering the bike number in the App, soon after that bike will be automatically unlocked.

If you live in Bangalore and love to burn some calories while traveling, then Yulu Move is the best option to explore for the first and last-mile connectivity.

Yulu is founded by Amit Gupta who is also the Co-founder of Inmobi (India’s first profitable internet unicorn), other cofounders include R.K. Mishra, Naveen Dachuri, Hemant Gupta.

Index:

How Yulu Works?

Currently, Yulu offers two vehicles Yulu Move and Yulu Miracle both can be booked and ride from the same app.

Downloading the Yulu App:

Yulu App can be downloaded from the Google play store or Apple store for free. Soon after installing it one can start with Yulu vehicles from the Yulu docking stations.

Locating Yulu Zone:

Yulu riding is based on a dock biking system where the user has to pick the Yulu from a docking station and has to end the ride at a dock near the destination.

Users can find the Yulu location easily from the google map API in the Yulu App.

Deposit and Yulu Money:

Before starting your first ride user has to make a deposit of Rs.100 for Yulu Move and Rs. 250 for Yulu Miracle. After the money deposit user has to make a recharge for the ride in the form of Yulu money which is in the option of Rs. 50, 100, or 200.

The deposit money is refundable but while making the ride through Yulu vehicles deposit is required.

Yulu Unlocking:

Yulu can be unlocked either from the QR code or by entering the bike number in the App, soon after that bike will be automatically unlocked.

Lock built on Yulu vehicles is a smart IoT based lock that gets connected with mobile Bluetooth and got chared by the Solar panel on the Yulu basket.

Riding Charges:

Charges for Yulu Move are about Rs.10 for the first 30 mins then Rs. 5 for every next 30 mins and for Yulu Miracle Rs. 10 for starting the ride and then Rs.10 for every 10 mins.

End and Pause of Ride:

If you pause your ride in-between journeys you will be charged Rs. 5 for every 30 mins and Rs. 5 for every 10 mins for Yulu Miracle.

Yulu competitor’s analysis:

In the midst of 2018 multiple Bicycle sharing companies came up in the battle to conquer the market apart from Inmobi’s Yulu, Zoom Cars: Pedal, Ola Pedal, Chartered Speed, Bounce, etc.

Currently, Yulu seems a winner in the Indian Silicon Valley(Bangalore) when compared to these bicycle competitors. But other scooter-sharing companies like Vogo, Drivezy, Bounce, and Rapido giving them a tough fight!

Yulu revenue model:

Yulu major revenue source is definitely their riding charges from their vehicles, but currently, that seems nothing as compared to their investment in the IoT based bicycle and their electric scooter.

In March 2018, Yulu raised about 7$ million in their seed funding round, but it seems they have raised a lot from other angel investors and VCs but details are not public yet. As per Amit Gupta (CEO of Yulu) in his interview with Bloomberg, they are currently more focused on Yulu’s market fit rather than profitability.

The Bike-sharing system is majorly introduced in 2014 in china with the upcoming of Ofo. Ofo is operating for the last 5 years and has about 200 million registered users and operated in more than 250 cities globally.

But still, they are facing difficulties in making profits and therefore scaling down their global operation, so this marks a big question to every bike-sharing company’s profitability!

Do tell us what you think!

Did we miss something? Come on! Tell us what you think of our article on “How Yulu Works and Make Money?” in the comment section.

Want to know more about Bike/bicycle-sharing companies in India, China, and the USA, do read our article on “Bike Sharing Market Analysis of China, India, and the USA“.

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FAQs:

What are the deposit for Yulu?

Before starting your first ride user has to make a deposit of Rs.100 for Yulu Move and Rs. 250 for Yulu Miracle. After the money deposit user has to make recharge for the ride in the form of Yulu money which is in the option of Rs. 50, 100, or 200.

What Are Yulu Riding Charges?