Chook has constructive unit economics, CEO Travis VanderZanden stated Friday in fiery response to a report from The Data that the scooter startup was searching for $300 million in new funding, had misplaced almost $100 million and noticed its income shrink to about $15 million
VanderZanden didn’t disclose Chook’s income. Nonetheless, in a sequence of tweets the CEO argued that the corporate was being profitable on each journey.
Chook makes $1.27 on each journey on its Chook Zero scooters, which accounts for greater than 75 % of its fleet, VanderZanden stated.
That determine is notable — and but it doesn’t present the entire image. Based mostly on one of many pictures VanderZanden tweeted, evidently determine relies on a interval of 4 weeks in the summertime, when scooter ridership is probably going greater.
He additionally tweeted that the corporate’s run charge is 4 occasions greater from this time final yr. Although, the chart he tweeted was lacking the Y axis.
Chook launched Chook Zero, its customized scooter mannequin that’s designed to be extra sturdy and due to this fact last more, first launched in October.
In Might, Chook unveiled the Chook One, which encompasses a battery designed to final twice as lengthy, cowl an extended vary and final greater than 4x longer within the shared area.
VanderZanden pushed again on different parts of The Data’s report, noting that the $100 million determine “was a one-time accounting write-off from outdated retail scooters b/c our authentic depreciation window was too lengthy.”