The Feri Network is planning to disrupt the ridesharing industry with a business model built upon mutual respect for drivers and riders.
Founded in January 2019, Black-owned ridesharing app The Feri Network’s primary feature is that drivers are able to earn 100% of a rider’s fare. A stark difference from the 25% plus fees that Uber collects from its drivers, each ride.
“I felt like it was unfair that the drivers were losing 20-25% of the fare which added up to thousands of dollars per year. I felt like with technology available and a different business model we could give back … give more,” founder of The Feri Network says.
Right now, The Feri Network is focused on signing up new drivers to the app. The company needs a base of dedicated drivers to be able to provide services to riders. However, they’re not turning riders away during this time. Just as the drivers receive the incentive of 100% of their fare, active riders on the network are automatically entered to win $100 and winners are chosen monthly. Also, you know how surge pricing increases the cost of your ride, right at the time you need it most? Well, there’s no such thing on The Feri Network.
“I think the opportunity for people who are using these services to support their friend, neighbor relative, … will be a big game charger for this market and I really hope to change peoples lives,” The Feri Network’s founder says. “I really want to give more to everybody and see everybody succeed. And see everybody get more flexibility in their lives. “
In addition to enriching the lives of the humans that use its service, The Feri Network also intends to regularly plant trees in an effort to help preserve the environment and offset the company’s carbon footprint.
Download the Feri app here.