Bungii is quickly seeing results in the third-largest U.S. city, as the sharing economy startup leaves its tire prints on yet another market.
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“It’s early, but we are seeing very positive KPIs [key performance indicators] from the Chicago launch. It’s our fastest-growing record to date,” said Ben Jackson, co-founder of Bungii, which was founded in the Kansas City metro in 2015. “Each subsequent market is growing faster than the previous due to: 1) A better understanding and more precise customer acquisition model. and 2) Continuing progress we’re making from an operational standpoint.”
Co-founder Harrison Proffitt is on the ground in Chicago for the launch, fresh off opening the Miami market to Bungii’s platform this winter.
Click here to learn more about why Bungii was named one of Startland’s Kansas City Startups to Watch in 2019.
Bungii’s elevator pitch: Bungii is an app that puts a pickup truck at your fingertips to help move, haul and deliver stuff around town. We’ve been compared to popular ride sharing app, but instead of moving people, we move people’s stuff.
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New cities expose ways to improve Bungii’s offerings to better fit individual geographic and demographic quirks, while still appealing to and serving a broad customer and driver base, Jackson said.
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Kansas City boasts a high population of pickup trucks, for example, while Atlanta has some of the worst traffic nationally, he explained, also noting the experience of Washington D.C.’s high population density and urban landscape.
“Each market is different with unique challenges and intricacies,” Jackson said. “We’ve found that each must be approached with a learner’s mindset; we really need to understand what makes these markets tick and where the hot spots are.”
“I’m so proud of our team’s ability to adapt and overcome,” he continued. “We can handle anything a market throws at us.”
Such confidence is earned, in part, through Bungii’s 24-percent compound monthly growth rate in gross revenue, year to date.
“When drilling down on a single market (city) level, we’re still seeing strong, triple-digit annual growth, even from our most mature markets,” Jackson said.
Bungii expects to open operations in at least 10 new cities in 2019, Jackson told Startland previously.
“By the end of the year, we should be operating coast to coast,” he said.
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