Cargo, a startup that wants to let every rideshare driver open their own convenience store in their car, has just raised $5.5 million in a round it's calling seed preferred financing.
Over the summer we covered the company's $1.75 million seed round, at which point they were just getting started. Now they have 2,500 cars on the road in NYC, Chicago, Boston and Minneapolis, with 20,000 driver signups from all 50 states.
Drivers get a 25 percent commission on each paid order plus a $1 base commission for each order (including free products), with the average driver earning around $100-$115 per month. However the top 10 percent of drivers are converting somewhere between 30-60 percent of riders into customers and making up to $275 per month.
https://techcrunch.com/2018/01/22/c...rivers-sell-snacks-and-essentials-nationwide/