Bikeshare Startup Targets Nationwide Growth

Posted: Updated:
(photo courtesy VeoRide) (photo courtesy VeoRide)

The chief executive officer of West Lafayette-based VeoRide Inc. says the startup hopes to launch in 20 new markets in 2018. The company, which began at Purdue University last year and is expanding this month to two other institutions in the U.S., is a dockless bikeshare service that uses mobile technology to make bikes available to riders. Candice Xie, a Purdue graduate who co-founded VeoRide, says they have received positive feedback from users since the service began.

VeoRide announced last week it has signed contracts to launch the service at the University of Kansas and New England College in New Hampshire. In an interview with Inside INdiana Business, Xie says VeoRide provides more convenience for users and communities than traditional bikeshare services.

"For the users, it gives them more freedom and the pricing is more affordable for them. It's only 50 cents every time they ride a bicycle and they don't need to return to a fixed station," said Xie. "For the community, there is no up front costs so it lowers the barriers for the community to get a bikeshare program."

Riders can use VeoRide's mobile app to locate a nearby bike, unlock it by scanning a QR code on the bike or entering the bike's ID number, and the bike will be available to ride. When they're done with the bike, users can just park near any bike rack or publicly-available location listed on the app. 

Xie says they are looking at certain locations to include in the planned expansion. "We are targeting the communities that are built for bikeshare, where bikeshare can be sustainable and where bike riding is engaging for the residents and visitors."

The bikes themselves are designed by VeoRide. Xie says the company controls the entire process from designing to manufacturing to deployment, all of which is done in Indiana.

Xie founded the company along with Edwin Tan, another Purdue alumnus. The company recently relocated from the Purdue Railyard coworking space into its own office in West Lafayette. Xie says while they are looking to expand nationwide, they are proud to keep their roots in Indiana.

Xie says they have received positive feedback from users since the service began.
  • Perspectives

    • Unmasking Accounting Data: Moving from Reporting to Being Strategic

      What story do our financial statements tell us this month and year, to date? This was the question that was always directed at us by a former manager.  He believed that financial statements tell the story of how a business is run and the direction it’s going. Most businesses publish their profit and loss statements, and balance sheets every month. These are the standard reports included in most reporting packages. Usually, the management tends to believe...


Company Name:
Confirm Email:
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections


  • Most Popular Stories

    • Apartment Building Development Coming to Rushville

      A Knightstown company has announced plans to build four new apartment buildings in a $5.25 million development in Rushville. Villa Buildings will be built by KDC Investments, Inc on West 16th Street in Rushville.

    • The Mystery of Cancer in Firefighters: Two Indiana Researchers Uncover Clues

      There’s a lot of conjecture about cancer in the world of firefighting, but a crescendo of anecdotal—and scientific—evidence is driving two Indiana researchers to search for answers. 

    • BraunAbility Moving Global HQ to Carmel

      A manufacturer of wheelchair vehicles and wheelchair lifts in Pulaski County has announced plans to relocate its global headquarters to Carmel. BraunAbility says it will invest $7.5 million to move its HQ to the Lakeside Green Business Center and construct a new Research & Development and Technology Center. The Indiana Economic Development Corp. says the move will create up to 70 jobs in Hamilton County. The company says the investment will also boost its existing...

    • Indy Eleven Rallies For State Stadium Support

      Indy Eleven leadership, players and fans Thursday rallied at the Statehouse for support of a measure creating a public-private partnership to help fund a $150 million soccer stadium. Lawmakers are considering a measure that would allow the team to work with city leaders for two years on development plans for the venue, which would be funded by developer-backed bonds. In an interview with Inside INdiana Business Reporter Mary-Rachel Redman, team owner Ersal Ozdemir said the...

    • On-Air

      Find out when and where you can watch and listen to our reports.