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Oonee's Next Goal? Make Secure Bike Parking As Common As ...
·
Mar 15, 2023
It's one bike parking unit, one giant leap for bike parking.
Opportunity
Increasing cycling and micromobility modality is crucial for the future of cities
Climate change, traffic congestion and safe streets initiatives have led to governments encouraging adoption of bikes and scooters instead of cars, with millions of people making the switch.
Unfortunately, while much attention has been paid to roadway safety, secure parking and convenient charging is still impossible to find for most riders. These key pain points are among the leading adoption barriers for city dwellers.
To fully harness the potential of this movement, we must build a modern, comprehensive parking & charging network in every American city– that’s why we made Oonee.
Working in partnership with communities, government and property owners, we’ve created an unprecedented parking & charging experience that's designed to scale. Linked together by a convenient mobile app, our free stations are built to the highest regulatory standards and are designed to thrive in even the most challenging of urban environments.
After demonstrating the success of our model during an initial two year pilot our team will have 14 stations operating by Q1 2024 in NYC and New Jersey and another 65 stations in the pipeline in major cities across the United States.
This is only a small fraction of the opportunity, however. We've received hundreds of inquiries from communities across the globe; there is so much demand for Oonee. To accelerate this pipeline, we're building a powerful software platform that will handle every stage of the process, from site selection to financing and the operations. This will unlock a massive scale opportunity with true unicorn potential.
Product
Scalable cycling infrastructure
We work with communities to build & operate inclusive, well-designed bicycle infrastructure.
Our plug-and-play model consists of four tenants:
Advocacy & education
We work with communities and the public to explain the value of secure bike parking & charging networks, and to help conceptualize how a fully built out system might function.
As part of this process, we link policy and planning with procurement, financing and operational realities.
Expertise & planning
We help property owners navigate the complex process of planning for the creation of a bike parking & charging system. This includes financing, site selection, and working with utilities to determine power connectivity options. Each jurisdiction has their own set of unique rules and regulations, and we work to understand these and determine the best implementation options.
Operations & management
We handle every aspect of the operational element including the user experience, sanitation, maintenance and upkeep. Deployments receive regular software and hardware updates.
Design & buildout
We work with top OEMs across the globe to design, customize and build high quality infrastructure that looks great on city streets. Our design catalog includes six, interoperable and customizable hardware options that make building the perfect network extremely easy. All of our hardware products are linked together by an extremely convenient mobile app called Oonee OS.
Smarter charging (in development)
We're building out a smarter, safer, more convenient charging platform that's especially designed for e-bikes, e-scooters and other e-micromobility devices. Oonee Power will be integrated into many of our existing facilities in addition to being sold to individual property owners.
To help unlock global scale, we're building a web-based platform that will use AI to largely automate the process. We're calling it Oonee IQ.
Oonee IQ will be the one stop shop for the entire process of planning, procuring, installing and operating premium micromobility infrastructure for governments and property owners across the globe. Specifically designed for smaller and medium sized customers who often lack the in-house planning expertise and resources required to navigate through these complex projects, Oonee IQ will streamline the entire process. Coupled with easy-to-install hardware, strong OEM partnerships and global network service providers, Oonee IQ will allow in any community across the globe to deploy and scale micromobility infrastructure.
Traction
We have both quantitative and qualitative traction
Oonee is a rapidly growing business with both exponential scale and exponential impact. Since our last raise in 2021, we have rapidly expanded our product offerings, real estate footprint and technology, creating a strong foundation for massive scale in markets across the country.
Here are some of our KPIs:
Strong Revenue Growth
We are projected to hit $3 million ARR by the Q2 of 2024, from a diversified stream of sources that include outdoor advertising ($1.2 million) brand sponsorships ($1.1 million) and the hardware as a service offerings ($1 million)
This year, we are projecting a total revenue of 1.2 million, more than 5x growth from 2022.
Favorable Unit Economics
We net an average of 30% of all revenue on our hardware and infrastructure.
As we continue to scale, we project that this figure will only improve!
A Growing Network
We've increased the network size by 4x this year, with another 65 stations in the pipeline for 2024!
Massively Popular
Usage on app has increased by 7.5x since this winter, with a 30% increase in users each month.
We have dozens of requests from cities, large and small, for placements in 2024... all driven by incredible user feedback
Strong Community Support
We've worked with communities at every level to build a strong, inclusive foundation of support into all of our projects.
Communities in cities across the country are excited for more Oonee!
Our efforts have been recognized in local and national media:
Business model
Value capture
We have several innovative ways to monetize on the growth of our network
Digital and Static Advertising
We place digital and static advertising on our infrastructure
- We've been generating revenue from static advertising since 2019.
- We've been generating digital advertising revenue since 2023. Digital advertising is approximately 3x more lucrative than static advertising, while earning higher aesthetic points from communities.
- Including community voices and feedback in the rollout process
As a result, we've won many contracts — with the Metropolitan Transportation Authority, the NYC Department of Transportation, the Port Authority, and the City of Jersey City — under which we've introduced innovative financing mechanisms that include advertising, sponsorship, and licensing plans.
Static Advertising at one of our facilities
Each station is capable of generating between $60,000 and $400,000 annually in advertising and sponsorship revenue. These revenue streams can pay off the capital expenditures of the units in as little as 12 months.
Hardware as a Service
We provide our infrastructure to property owners in one convenient service bundle that includes the hardware, software, financing and maintenance. This model includes three easy options:
- Infrastructure purchase with software & service bundle
- Infrastructure financing (i.e. pay over time) with software & service bundle
- Infrastructure subscription (i.e. rent) with software & service bundle
Although all Oonee infrastructure is optimized for Oonee software and IoT systems, these ownership models are designed to fit a wide range of public and private procurement restrictions.
This marketplace will be bolstered by an exponentially growing user base and strong engagement drivers that include free parking, charging and bicycle registration
At a Glance: Monetization
We have a strong and diversified revenue base that is primed for scale
Vision and strategy
Building a unicorn by making streets better!
After successful NYC and NJ pilots, our plan is to grow our network:
- Launch 65 bike parking and charging stations in major American cities by the end of 2024
- Launch Oonee IQ an online platform that opens up our entire product line to millions of small and medium sized customers across the globe
- Deploy hundreds of charging stations worldwide in 2024 and with thousands more under contract for 2025
- Onboard 1 million users on Oonee OS by the end of 2024
- Secure at least four contracts with top cities across North America
Ultimately, Oonee is working to build a massive regional micromobility parking and charging network that will be a model for the world.
Growth Forecast
Leadership
A different kind of mobility company
We are a proud Brooklyn-based, Black and Brown-led team of advocates, designers, and policy experts.
We began our journey in 2017, when our founder & CEO Shabazz Stuart had his third bike stolen in five years. With a fair amount of experience in the field of community & streetscape projects through their work at the Downtown Brooklyn Partnership,
Shabazz Stuart and J. Manuel Mansylla (Manman) set out to design a solution for bike parking and charging addressed the scale of the need and thrived in complex urban environments like New York.
Prior to founding Oonee, Shabazz was Deputy Director of Operations for the Downtown Brooklyn Partnership, where he was responsible for 1.1M sq ft of public space. He also sits on the board of StreetsPAC and is a member of the Transportation Alternatives advisory council.
Oonee's Co-founder, Manman, is widely recognized as one of New York’s leading public space designers. He was the architect of the city’s first pedestrian plaza in DUMBO and created the framework for NYCDOT's Street Seat program. He's also worked with countless other public and private actors over the years to build practical streetscape infrastructure.
