Veo

Yanke(Edwin) Tan and I started Veo with a clear idea: that micromobility could reshape how people move—if we got the fundamentals right. That meant building durable vehicles, growing responsibly, and making sure the economics worked before we scaled. That’s why today, we’re celebrating a big milestone: Veo is EBIT profitable ?? We’ve officially become the first North American micromobility company to achieve EBIT profitability (unadjusted!)—the most rigorous measure of financial health. ?? What this means: ? Veo generates $3.25 for every $1 of investment—proof that micromobility can be both profitable and capital efficient ? Our financial strength enables us to reinvest in vehicles, infrastructure, and service—ensuring long-term reliability for riders and cities ? The industry no longer needs to prove viability—it’s time to scale responsibly and make micromobility a permanent part of urban mobility This isn’t just a milestone for Veo—it’s a signal that micromobility can work when we hold ourselves to the right standards. ?? More thoughts in the post linked in the comments.

Some big news in the shared micromobility space - Veo has achieved EBIT profitability in 2024. This makes Veo the first North American micromobility company to achieve EBIT profitability. Veo closed out the year with $52 million in revenue, a vehicle profit margin of 71%, while making $3.25 for every $1 of investment. “EBIT (Earnings Before Interest and Taxes), without adjustment, represents the most rigorous and transparent measure of profitability, accounting for the full cost of operations—including vehicle fleet depreciation—one of the industry’s most significant expenses,” Veo's CEO Candice Xie told us. Read the piece on Zag Daily here: https://lnkd.in/eeBwNzix

Yanke(Edwin) Tan and I started Veo with a clear idea: that micromobility could reshape how people move—if we got the fundamentals right. That meant building durable vehicles, growing responsibly, and making sure the economics worked before we scaled. That’s why today, we’re celebrating a big milestone: Veo is EBIT profitable ?? We’ve officially become the first North American micromobility company to achieve EBIT profitability (unadjusted!)—the most rigorous measure of financial health. ?? What this means: ? Veo generates $3.25 for every $1 of investment—proof that micromobility can be both profitable and capital efficient ? Our financial strength enables us to reinvest in vehicles, infrastructure, and service—ensuring long-term reliability for riders and cities ? The industry no longer needs to prove viability—it’s time to scale responsibly and make micromobility a permanent part of urban mobility This isn’t just a milestone for Veo—it’s a signal that micromobility can work when we hold ourselves to the right standards. ?? More thoughts in the post linked in the comments.

It’s not riding season in Toledo until Mayor Wade Kapszukiewicz rides a Cosmo!? We’re grateful to provide City of Toledo with more ways to get around: ?? 66% of our Toledo riders were able to cut back on their car usage with Veo ? Most riders use Veo to commute to and from work or school Learn more about the program: https://lnkd.in/e-PuR58r

Welcome to Columbus Veo! We’re excited to introduce a new set of options to our shared mobility program, including e-scooters, e-bikes and brand new to Columbus, very fun to ride seated scooters. Great day for a test ride in the City of Columbus!

We’re gearing up for a big weekend in Columbus as we launch our most robust city fleet yet ????? Thousands of vehicles will be available when our fleet is fully deployed, offering five ride options—from standing scooters and pedal bikes to seated scooters and electric bikes—giving residents more options to get where they need to go. At least 50% of our Columbus fleet will be seated vehicles to ensure access for riders of diverse ages and abilities. We are grateful for our partners at the City of Columbus and the opportunity to introduce a new chapter of mobility in the city. Let’s ride! Via Lydia Taylor Spectrum News:

When I first stepped into the transportation industry at Veo, there weren’t many women at the table—and honestly, there still aren’t. Women make up just 29% of the transit workforce and hold just 20% of leadership roles. On #InternationalWomensDay, we celebrate the contributions of women across our industry while recognizing the barriers that persist. But progress—though slow—is happening. When we bring people with diverse lived experiences to the table, we get transportation systems that serve diverse needs. That means well-lit bus stops that make nighttime travel safer, micromobility systems that offer a safe alternative to walking home alone at night, transit that accommodates caregivers with strollers, protected bike lanes that help riders of all ages and abilities feel secure, and service schedules that work for shift workers—not just the 9-to-5 commuter. These aren’t just “women’s issues.” They’re core mobility issues. And when more voices are represented in leadership, these priorities get the attention they deserve. Today isn’t just about celebrating progress—it’s about demanding more. To every woman shaping the future of transportation: Keep pushing. Keep leading. We see you. We need you. #IWD2025 #WomenInTransportation

Manhattan, are you ready to ride? ??? Veo is bringing shared scooters to The Little Apple! In partnership with the City of Manhattan, Kansas, and Kansas State University, we’re launching a shared scooter program to help the community get where they need to go—faster, easier, and more sustainably. “Veo will give residents, students and visitors an affordable, alternative way to get around our community,” said assistant city manager Jared Wasinger. “This commitment to provide a micromobility program to the community will provide and enhance critical last-mile transportation access in Manhattan.” Learn more via The Manhattan Mercury:

We’re #hiring! If you’re passionate about innovation and sustainability, Veo may be the place for you. Join us and be a part of a new era of micromobility. Here are the roles we’re excited about this month: ?? Chief Financial Officer (Hybrid - Santa Monica, CA) https://lnkd.in/enY9msMw ?? Data Analytics Manager (Hybrid - Santa Monica, CA) https://lnkd.in/eTdU8iGS ?? Proposal Writer (Hybrid - Santa Monica, CA) https://lnkd.in/eKwqxuGq Benefits and Perks: ? Medical, Dental, and Vision ? 401K with match ? Unlimited PTO ? Unlimited Veo Ride Credits

One of my favorite parts of working at Veo is running our annual rider survey—it’s a treasure trove of data that helps us understand why people use shared scooters and bikes. Last fall, a record 12,000+ riders shared their experiences with us, and their feedback sends a clear message: micromobility isn’t just a convenience—it’s a necessity. Riders depend on Veo to get to work, pick up groceries, and move freely in their communities. Some key highlights: ?? 40% of riders don’t have access to a car and 28% don’t have a driver’s license ?? Over half of riders said they’d use Veo more often if vehicles were designed to carry groceries or accommodate two riders ?? Year after year, riders rank protected bike lanes as the #1 factor that makes them feel safe At Veo, we take rider feedback to heart. It drives us to invest in new vehicle types, improve accessibility, and advocate for safer, more connected neighborhoods. Hear more about what we’re learning and how we’re taking action in this story from Zag Daily. Thanks, Ben Hubbard William Dodds for the opportunity to nerd out with you on survey data ?? We’re already gearing up to develop our next survey, and I’d love to hear from you—if you could ask 12,000 micromobility riders one question, what would it be? ???