29 Mar BBF: 128 Wunderkid takes on Uber with HOP with Zeryab Cheema

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What an absolute prodigy we have on the show today… 20 years old and taking on the might of Uber! We’re not dealing with your average guy here. Zeryab Cheema has been an entrepreneur since the age of 15, building up an app called Taxi 24/7 which was adopted by over 20,000 black cabs in London.

Not content with that, Zeryab has set his sights on Uber by creating Hop: an ingenious concept that absolutely epitomizes the potential of the sharing economy. Read on for some more info about it:

  • 100% of a customer’s fare goes to the drivers
  • Drivers receive a base payment of 300 AUD per day just for being on the road
  • Drivers rent their vehicles from Hertz
  • The ambition is to get to a point where drivers can tap a card on a car parked in the street and start using it
  • Raised capital last year, about to close 2nd round of capital
  • There are currently six full-time staff in Hop team, 4-6 contractors/promotional staff and 3 board members, including a former winner of the Australian Apprentice
  • He intends to trade in other countries using other global partners
  • He’s never written a business plan in words – he just uses numbers

 
In this episode of Business Brain Food you will learn:

  • The importance of leveraging from bigger companies
  • How it’s possible to take on Uber
  • A real-life example of marketplace disruption
  • How to approach the raising of funding
  • The importance of finding the right people
  • The importance of networking with other entrepreneurs

 
Resources mentioned in this episode:

 
If this guy doesn’t inspire you then nothing will! Believe in your ideas and go for it!

Also, if you are enjoying these Business Brain Food podcasts, then make sure to share them via social media sites or email the links to family and friends. A lot of time and effort goes into producing each of these podcasts with the goal in mind of the more people we can inspire about business the better. You can help us do just that!

Until next time, have a profitable day.

Cheers,
Ben Fewtrell
(02) 9111 5000