Innovation is at its peak. New industries like Artificial Intelligence, Computer Vision, and Augmented Reality are setting the ground for what is going to come in the next 20 years. However, there is a relatively new industry that is disrupting a $2 trillion market, and one of the most essential industries in our economy. We are talking about Transportation. Companies like Uber and Lyft are changing the way people are going places. In fact, car ownership is reaching its peak as sharing a ride in someone else’s car is becoming the norm. As we project to spend 450 billion minutes as passengers by 2030, in-car commerce is arising as a new category within Ridesharing.
Salomon Horowitz, Founder, CEO and former Florida Lyft Operations Manager
Vendy is arguably the most effective embedded in-car advertising and commerce platform. Through its mini convenience box located on top of the car’s center console, Vendy brings snacks, essentials, and cosmetics to the passengers while helping the drivers increase their earnings. In the process, CPG brands also win since they now have a new unsaturated channel to connect with their consumers visually, physically, and digitally.
How does it work? Passengers visit Vendy’s seamless web application on their personal phones as they enter the car. They proceed to type in the unique code assigned to each Vendy box. Following this, they are prompted with a menu of the items being offered. After selecting the products, they can pay their preferred method of payment, whether it is a Credit card, ApplePay, Venmo, or GooglePay. Once the transaction is successful, the driver gets an automated SMS with the summary of the order and proceeds to hand over the products to the passengers when safely stopped.
Salomon Horowitz, Founder and CEO of Vendy and former Florida Lyft Operations Manager, realized that drivers were barely making money after putting 40 to 50 hours per week behind the wheel. He even saw that some drivers were losing money after car expenses. In parallel, he understood that passengers are becoming an extremely valuable captive audience as they spend on average 23 minutes inside the car. That’s when the idea of Vendy was born. His initial thought was “If we can monetize the attention of the passengers to help drivers earn more money, we will be into something.”
Salomon quickly put together a prototype and hit the road as a Lyft driver. As he expected, passengers were intrigued by Vendy and he closed some sales on the first day. Since then, Vendy now counts with hundreds of drivers in Miami, multiple brands advertising their products, and a team of 8. Their vision is to become the #1 commerce platform on wheels.
Vendy was awarded by Visa for its innovative payment structure and was featured in the Miami Herald Business Edition.