Driver-owned Ride-hailing Platform Fare Co-op Expands in California with Over 5,000 Registered Drivers and Increased Investments

The move comes ahead of the robotaxi era, empowering drivers to secure their future in the age of automation

SAN FRANCISCO, Jan. 21, 2025 /PRNewswire/ -- Fare Co-op, the world's first hybrid, corporate ride-hailing & delivery cooperative, is expanding its platform throughout California, experiencing significant growth with over 5,000 registered drivers across the state. This expansion comes amid increased investment in the platform and its infrastructure, positioning Fare Co-op as a leading force in the evolving transportation landscape.

"This rapid growth in California demonstrates the strong demand for a driver-centric ride-hailing model. With thousands of drivers now on the platform, and more joining daily, Fare Co-op is proving that drivers can thrive while building a more equitable and sustainable transportation system," explained Ivan Olivo, CEO of Fare Co-op/Local Driver Co-op Federation. "We are committed to empowering California drivers and ensuring their voices are heard as we navigate the future of transportation together."

Unlike traditional cooperatives, Fare Co-op's innovative model allows for partial corporate ownership while remaining majority driver-owned. Inspired by VISA's 1967 structure, which led to the largest IPO in U.S. history, Fare Co-op presents a compelling alternative at a critical time for drivers.

California drivers have faced mounting challenges since the repeal of AB5, which offered them employee status and benefits, and its replacement with Proposition 22, a law backed by over $200 million from industry giants. As a result, drivers have been relegated to independent contractors without the rights and protections they need. In the years since Prop 22's passage, driver wages have fallen, while consumer prices have surged. The unveiling of robotaxis adds an existential threat: autonomous vehicles could displace millions of drivers entirely, leaving them with no source of income and little recourse.

Fare Co-op's referral program is designed to empower both drivers and consumers by offering them a unique opportunity to earn passive income while helping to expand the platform. Through this program, Fare Co-op gives back up to 25% of its earnings from every ride to those who participate, creating a mutually beneficial ecosystem that rewards engagement and loyalty. By referring new drivers and customers to the platform, participants can generate a steady stream of residual income, with the potential to earn thousands of dollars each month simply by bringing in a few hundred users that use the app to order or accept rides. This innovative approach not only fuels the platform's growth but also provides financial opportunities for those who believe in Fare Co-op's mission of creating a fairer and more community-driven rideshare experience.

When ride-hailing first emerged, it disrupted the taxi and livery industries but also created new opportunities for work. Autonomous vehicles, however, could wipe out both sectors, pushing countless drivers and their families into financial uncertainty. Meanwhile, the industry's largest players are partnering with autonomous vehicle manufacturers, cutting drivers out of the future of ride-hailing altogether.

Fare Co-op offers a powerful solution. Through its cooperative structure, drivers retain up to 90% of the earnings portion of each ride, while consumers save up to 20% on average and never experience surge fares. More importantly, Fare Co-op has a long-term vision: enabling drivers to own the autonomous vehicles that would otherwise replace them, securing their stake in the future of transportation.

Fare Co-op is also calling on autonomous vehicle manufacturers to work together, providing special rates and opportunities that allow drivers to stay involved in the industry. Unlike the incumbents, which seek to replace drivers to increase profits, Fare Co-op envisions a future where drivers are not displaced by AI but empowered by it.

Fare Co-op is now operational in Los Angeles, San Francisco, Sacramento, San Diego, Fresno, Palm Springs, Orange County, Redding and other California cities, offering a driver-owned alternative just as the robotaxi era begins.  Download the app and try FARE today*.

About Fare Co-op

FARE Co-op is a pioneering multi-stakeholder federated cooperative that is revolutionizing the ride-hailing industry. By empowering drivers with ownership and a significant share of the revenue, FARE Co-op creates a more equitable and sustainable transportation system. With a growing network of drivers across North America, FARE Co-op is leading the charge towards a future where drivers are at the heart of the ride-hailing ecosystem. Learn more at https://fare.coop/.

Media contact:

Matt Kovacs
[email protected]
310-395-5050

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SOURCE Fare Co-op