WEBVTT

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♪♪

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>> IT'S TIME TO GO INSIDE
INNOVATION BROUGHT TO YOU BY
ALLEGION. PIONEERING SAFETY.
TWO YEARS AGO, WHEN THEY WERE

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ROOMMATES AT INDIANA UNIVERSITY,
THEY LAUNCHED NOMAD RIDES.
THE STARTUP HAS ALREADY
COMPLETED MORE THAN 40,000 RIDES

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WITH A GROUP OF 82 DRIVERS AND
MORE THAN 12-THOUSAND USERS.
NOMAD RIDES IS OPERATING IN
BLOOMINGTON AND INDIANAPOLIS AND

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RECENTLY LAUNCHED IN
CHAMPAIGN/URBANA...ON THE CAMPUS
OF THE UNIVERSITY OF ILLINOIS.
I'M PLEASED TO WELCOME CEO

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DNIEL JONES AND CHIEF FINANCIAL
OFFICER MICHAEL MCHUGH, WHO ARE
HERE TO EXPLAIN PLANS TO EXPAND
TO ALL BIG TEN SCHOOLS.

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GENTLEMEN, WELCOME TO THE
PROGRAM.
>> THANKS.
>> CONGRATULATIONS. THIS IS

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INTERESTING. ALL AGAIN, YOU GUYS
TOGETHER, BLOOMINGTON FOLKS MAY
KNOW THIS, B-TOWN RIDES.
>> ORIGINALLY STARTED WHERE

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BASICALLY MIKE WAS A SENIOR, I
WAS IN CALIFORNIA, AND I HAD
JUST GRADUATED FROM 1150
ACADEMY. LEARNED HOW TO CODE,

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STARTED B-TOWN RIDES, PEOPLE
COULD TEXT US, HEY, I CAN GET A
RIDE, AND THE DRIVER WOULD KEY
WHAT THEY WOULD PAY. WE HAD

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PEOPLE TEXTING US ALL NIGHT
LONG. PEOPLE WERE ASKING CAN I
ALSO GET A RIDE?
WE DECIDED LET'S BUILD A REAL

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APP FOR THIS THING, AND IT GOT
INSANELY POPULAR AFTER WE
RELEASED THE APP
>> HOW DOES IT WORK?

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IT'S BASICALLY A NON-COMMISSION
MODEL, VERY DIFFERENT THAN UBER
AND LYFT?
>> WE'RE ACTUALLY THE FIRST

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COMMISSION-FREE RIDE SHARE
SERVICE. WHAT THAT MEANS, UBER
AND LYFT TAKE UP TO A 40%
COMMISSION ON EACH RIDE. WE

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DON'T TAKE ANYTHING. OUR RIDER
PAYS 20% LESS, DRIVERS MAKE 20%
MORE. THE WAY WE MAKE MONEY IS A
MONTHLY DRIVER SUBSCRIPTION.

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>> MIKE, TALK ABOUT THE GROWTH.
BECAUSE LAUNCHED IN BLOOMINGTON,
YOU GOT A STRONG PRESENCE THERE.
THE UNIVERSITY OF ILLINOIS.

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ADDITIONAL PLANS THROUGHOUT THE
BIG TEN FOOTPRINT. WHY DO YOU
THINK THIS HAS CAUGHT FIRE?
>> GROWTH-WISE, IT IS KIND OF

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AMAZING, WE'VE BOTH BEEN WORKING
ON THIS FULL TIME FOR A YEAR
NOW. SO A YEAR LAST FEBRUARY.
AND SINCE THEN, WE'VE HAD TO

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SHUT DOWN THE SERVICE IN THE
SUMMER. WE'VE ONLY BEEN FULLY
OPERATIONAL NOW SINCE AUGUST. SO
WE GOT, NOW WE'RE THE THIRD TNC

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LICENSE COMPANY IN INDIANA. AND
SO THE GROWTH HAS JUST BEEN, AS
DANIEL PUT IT, ABSOLUTELY
BANANAS.

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>> TALK ABOUT THAT. BASED IN
CALIFORNIA, SO YOU ALL WENT
THROUGH THAT SEVERAL MONTHS,
RIGHT?

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>> YEAH. JUST GOT TO LEARN FROM
SOME AMAZING AWESOME SUPER
INTELLIGENT PEOPLE, WE'RE SUPER
FORTUNATE TO GO THROUGHTA

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PROGRAM.
>> GROWTH OPPORTUNITIES, YOU
TALK ABOUT THE BIG TEN. YOU HAVE
PLANS BEYOND BIG TEN

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UNIVERSITIES, TALK ABOUT THOSE
CLIENTS.
>> YES, WE REALLY WANT TO GO
THROUGH THE BIG TEN

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UNIVERSITIES, PURDUE, ET CETERA,
THE CALIFORNIA, TEXAS, SOUTHERN
SCHOOLS, BASICALLY THE TOP 50
COLLEGE TOWNS IN THE UNITED

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STATES, BUILD OUT THE LARGEST
RIDE SHARE IN THE U.S.
>> AND THE WAY DANIEL PHRASING
THE GROWTH, DO YOU OWN A CAR?

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OR LIKE DO YOU NOT OWN A CAR?
AND THAT'S OUR MARKET. ANYBODY
WHO OWNS A CAR AND LIKE OR NEEDS
A RIDE, THAT'S OUR MARKETS.

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>> UBER AND LYFT HAVE
ESSENTIALLY EDUCATED EVERYONE TO
THE RIDE SHARE MODEL, THAT
PROCESS, BUT YOU CREATED

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SOMETHING THAT THE RIDER GETS TO
RIDE FOR LESS MONEY, THE DRIVER
GETS TO KEEP MORE MONEY, SEEMS
LIKE A WIN-WIN.

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>> ABSOLUTELY MORE EQUITABLE
SOLUTION THAN WHAT CURRENTLY
EXISTS.
>> ALL RIGHT. IT'S AN AMAZING

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STORY. STARTED ON THE CAMPUS OF
INDIANA UNIVERSITY, IS GROWING
AROUND THE BIG TEN, DANIEL
JONES, AND MICHAEL McHUGH, THE