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LOS ANGELES, Nov. 18, 2024: Fare Co-op, a rideshare platform reimagining the future for drivers and riders, is set to revolutionize the industry by offering a unique driver-ownership model. Unlike other companies in the sector that are transitioning to driverless vehicles, Fare Co-op is focused on empowering drivers to own the vehicles of tomorrow. The platform provides fares up to 20% lower than industry standards, with no surge pricing, ensuring consistent savings for riders, whether during peak hours or late-night trips.
Fare Co-op offers drivers the opportunity to earn 85% of each fare, ensuring that member-owners are not only earning but also investing in their own future. Even non-member drivers earn 55%—a significantly higher percentage than what is commonly offered in the industry. This ownership model motivates drivers to deliver exceptional service, as they are deeply invested in the platform’s success.
As automation technology progresses and driverless cars become a reality, Fare Co-op is committed to supporting its drivers by ensuring that they can own and operate these new vehicles, thus securing their financial future. This approach contrasts sharply with the direction many other companies in the industry are heading, where drivers face displacement.
For riders, Fare Co-op offers unmatched service and up to 20% lower fares, without the inconvenience of surge pricing. Choosing Fare Co-op means supporting a system where drivers are fairly compensated while enjoying superior service.
Fare Co-op also boasts a robust two-tier referral program, which allows individuals to earn substantial income by referring drivers and riders. Referring 100+ active drivers, passengers, or both, can potentially make you thousands of dollars a month in residual income or free rides, with the program representing 25% of the federation’s net profits. Up to 80% of those profits are directed to the referrer for every ride completed by their referrals.
Ivan Olivo, newly appointed CEO of Fare Co-op/Local Driver Co-op Federation, said, “I am proud to be part of an organization that truly values its drivers rather than seeking to replace them with autonomous vehicles. Drivers are the foundation of the rideshare industry, and Fare Co-op is ensuring they have a secure future in the evolving transportation landscape.”
Ahmed Attia, Chairman of the Federation, added, “This model has the potential to transform not only the ride-hailing industry but any sector facing the threat of automation. Companies that partner with us will distinguish themselves from the competition by making the ethical choice.”
About Fare Co-op
Fare Co-op (Local Driver Co-op Federation) is a driver-owned rideshare platform designed to empower drivers, provide unmatched savings, and lead the future of transportation. For more information, visit www.fare.coop.
Press Contact: Danny Golnik
(737) 363-8861
info@fare.coop
