Cars are seen in Paris at night. Concerns over climate change and higher transport costs, as well as government incentives for shared commutes are fuelling car-sharing. Picture: REUTERS
Concerns over climate change and higher transport costs, as well as government incentives for shared commutes are fuelling car-sharing. On February 6, BlablaCar said revenue in 2019 jumped 71% as it added 17-million new subscribers. About 21-million passengers travelled on its service in the fourth quarter, a 38% increase over the year-ago period.
Created in 2006, BlablaCar is touted as a French success story. Though the company claims its undisclosed 2018 profit shows it can make money, it posted a loss last year on investments to broaden its footprint in countries such as Brazil, Russia, Turkey and India. BlablaCar is in a “growth” phase, Brusson said.
The challenge now is to turn a profit in other markets. Getting people to pay for a seat doesn’t happen easily in expanding markets such as Brazil, Russia and Mexico, said Brusson. The CEO, who worked in Silicon Valley in the early 2000s, dreams of launching in the US.For Vostok, which backed BlablaCar’s Russia expansion, the tipping point will come when most of the company’s markets make money, which might be in the next two or three years, partner Maxim Loginov said.
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