Here at RSG, I’m all about working smarter, not harder. So whether it’s driving for multiple apps or using advanced strategies to boost your income, we’re always looking for ways to increase our earnings.
But no matter how much you make driving or delivering, you’re still trading time for money. That’s why since the start of the pandemic we’ve been looking at alternative ways to make money. And today, I wanted to highlight a cool opportunity to invest in a rideshare advertising company that many of you may have heard of – Vugo.
Vugo is one of the leaders in the in-car entertainment advertising industry and I actually interviewed their founder on the podcast about how he came up with the idea while driving for Uber and Lyft. Since then, the company has continued to grow and expand.
If you’d like to learn more about investing in Vugo, click here.
What is Vugo?
If you’re not familiar with Vugo, it’s a rideshare company that is looking to put geo-targeted video ads, both on top of and inside Uber and Lyft cars. Just imagine how valuable it would be for a company like Budweiser to show your 20 something passenger a beer ad right before dropping them off at a bar. That’s exactly what Vugo is trying to do.
Here’s a video on how it works:
As a driver, you get a cut of the advertising revenue. It’s a win-win, earning you more money while you’re already driving.
I’m a big fan of Vugo (I consider it one of the best rideshare advertising companies for drivers) and just recently Vugo announced they would be opening up to investors – which is the opportunity I mentioned above. I’m also an advisor for the company and will be investing some money in this round myself to get their NorthFace Fleece for Investors. If you invest early you’ll get a better investment deal.
Vugo Announces New Fundraising Campaign, Open to Drivers as Investors
Vugo has announced a new fundraising campaign, open to new investors, where you can invest in Vugo for as little as $100. Vugo is raising money right now in order to grow faster and allow drivers like yourself the opportunity to invest in a company that is focused on earning drivers more.
Crucially, Vugo was founded by a former Uber driver, who knows how important drivers are to the whole system. I don’t think this is an opportunity that will make you rich but I do think it’s neat to be able to invest $100 in a company that you can also help grow.
Risks of Investing with Vugo
Of course, investing comes with its own risks. Investing in startups is extremely risky so I wouldn’t invest this money unless you’re comfortable losing it. Specifically, the main risks I see for Vugo are:
- The pandemic – Covid-19 has not been friendly to rideshare and advertising companies so those are two things that are working against Vugo currently. But with a vaccine rollout already underway, I think rideshare will see a quick recovery as soon as things start to open up again (my guess is Q2-Q3 2021) as we’ve seen in many other countries
- Competition – There is a lot of opportunity in this space, so there’s direct competition from companies like Play Octopus and other car wrapping/display companies like Cargo and Firefly.
In our interview with Vugo founder James Bellefeuille, he acknowledged those challenges, but since then, Vugo has only continued to grow, landing partnerships with Via rideshare and Disney for ads. And to their credit, they’re still alive and kicking. Many rideshare advertising startups have come and gone but Vugo was the first one and they’re still going strong. I think that grit/staying power is a good thing.
Investing with Vugo
I reached out to Vugo about this opportunity and here’s what they’ll be using the money for: “Right now, Vugo is fundraising for growth, as Vugo is expanding into 10+ additional markets, mainly in North America. Their goal is to reach $200,000 by January 20, and you can be an early investor for as little as $100. Come join us on this amazing journey!”
You can check out their campaign to learn more here: https://wefunder.com/vugo
Plus, you’ll get a better investment deal for being an early investor!
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-Harry @ RSG