Local fireman Chad Mastagh started what he wanted for his own family: a rideshare company "safe enough to give rides to my teenage daughters." Over the past year, Chad has built Rides2U into a safe, reliable, high-quality alternative to the mass rideshare companies.
In a World of Walmarts, Be Costco
Rides2U is taking a thoughtful and proactive approach to building a successful and socially responsible ridesharing company. By emphasizing trust and safety, Rides2U differentiates itself from other rideshare services by going above and beyond to ensure the safety and trustworthiness of its drivers. In addition, they take additional measures, such as personal interviews, yearly vehicle inspections, and a solid commitment to maintaining a high standard of service.
Mastagh's vision is to treat his employees well, so they bring the highest level of safety and reliability to others. "In a world of rideshare Walmarts, who do the minimum, we strive to be the Costco."
Parent Concerns Drove His Mission
Mastagh came up with Rides2U of the concerns of his then-college daughters going out and wondering about their well-being. As a parent and fireman, safety is his main priority. Mastagh understands other parents' concerns about their children's safety when using ridesharing services or other forms of transportation.
Rides2U is providing a valuable service to its community and demonstrating a strong sense of social responsibility. So it was a no-brainer to create a company where he could feel secure and have reliable, high-quality transportation for his kids while they were hours away, and he had a hunch that other parents felt the same.
A Growing Fan Base
Rides2U has attracted a strong base of drivers and customers in the South Bend and Notre Dame communities. Currently, they have 40 active drivers and more than 1000 riders. Mastagh is most proud of his driver retention rates. Uber and Lyft retain less than 10 percent of their drivers for over a year; Rides2U has a 100 percent retention rate. "It's a testament to how we treat our drivers," says Mastagh. "When you treat people with respect and pay them well, they want to keep working with you." This approach has been an essential strategy for the company looking to establish itself in a highly competitive industry like ridesharing.
Better Rideshare in Every Town
To date, the company has raised over $100,000 in venture capital and is currently raising more. Mastagh's goal is to be in hundreds of communities in five years. "We're starting in college towns because they are underserved. With 20 million college students in the US and many more visitors, that's a lot of riders." He plans to launch in several new cities this year in preparation for a larger growth capital raise in 2024.
According to Mastagh, the IDEA Center has been instrumental to Rides2U's growth. "The IDEA Center has helped me in ways I couldn't imagine. They have guided me through having a company from the ground up, from receiving an LLC, to now a C-corp and transportation permits to fundraising. They have been there through the entire journey", said Mastagh.
Last month, Rides2U launched its web-based app, and available for all platforms. Install the app by heading to their website, rides2u.com, and adding the shortcut to your mobile device.
Rides2U will provide transportation for the IDEA Week 2023 keynote speakers at Notre Dame.
Head over to the website rides2u.com and install the shortcut on your phone.
Rides2U is one of the IDEA Center’s “high potential startups.” High potential startups are companies that are more likely to scale and grow quickly compared to other companies.