By continuing to browse this website, you consent to our use of cookies, as well as to our Terms of Use and Privacy Policy which provide additional information about how we process your data. This website uses cookies to enhance your user experience. Please read our Cookies Policy for more information on how we use cookies, as well as instructions on how to disable cookies. You may disable cookies through your internet browser settings, however this may result in some parts of the website not working properly for you.

Updated: 07/2019

DuduBus

China / Shenzhen , China / Website

05/2016 Series B
O2O Transportation Travel & Tourism SaaS
  • Pitch

    DuduBus provides Mobility-as-a-Service (MaaS) by connecting underutilized vehicles with businesses for their employees' corporate shuttle services, using algorithms to optimize routes for increased efficiency.

  • Why

    • High cost

      Rising cost of shuttling employees between home and workplace, especially for large enterprises.

    • Idle resources

      Shuttle and tour buses are not fully used, leaving excess capacity to be optimized.

    • Crowded public buses

      During peak hours, buses carry an average of 11 people in one sqm of space.

  • Market

    5m rides

    DuduBus' estimate of the annual unmet corporate demand in China for private vehicle rides. Analysts estimate Global MaaS market to grow by US$181bn during 2019–2023 at a CAGR of over 35%.

  • Product

    DuduBus matches buses from rental companies with large enterprises to provide shuttle services for employees to the workplace and to other company events. It also provides SaaS to business users, enabling them to monitor the shuttle service, such as real time location, and carpooling services to individual users.

  • Founders

  • Investors

  • Journey

    • 2015 - DuduBus was launched; secured seed, Pre-A and Series A funding; launched bus lines, Android and iOS apps and WeChat booking and payment facilities; achieved 450,000 users and 1m WeChat account followers.

      • The Launch

        January, DuduBus was founded in Shenzhen.

      • Products and services

        April, launched bus lines in Shenzhen.

        • The lines covered some central business districts in Shenzhen. 
        • The bus services were available only to individual users, who could vote for new lines. 
        • Launched official WeChat account for users to book bus services and pay online.

        October, launched its Android and iOS app, for users to book and pay for bus services.

      • Expansion

        June, operated over 200 lines in Shenzhen. Number of users grew to 450,000. 

        September, operated 2,000 lines in more than 10 cities. Achieved 1m WeChat followers.

      • Fundings

        January, received seed funding from 3W Next Big.

        June, received RMB 12m Pre-A funding from Plum Ventures and K2VC.

        • The funds were used to expand into other cities and provide more services such as shuttle buses for short-distance traveling.

        September, accessed RMB 52m Series A funding led by Ceyuan Ventures.

    • 2016 - RMB 100m Series B funding; RMB 640m investment through a Valuation Adjustment Mechanism agreement; discounted services for students; strategic partnership to expand into second-tier cities; incubated PonyCar; reached 1m users.

      • Expansion

        January, worked with Alipay to provide bus service at a discounted price to students in Guangzhou and Shenzhen, who used Alipay to book and pay for bus services.

        May, registered users reached 1m.

        August, formed strategic partnership with Auto Space, an incubator focused on auto-related business, to help Dudubashi's expansion into second-tier cities.

        October, incubated PonyCar, a car sharing venture.

      • Fundings

        May, received RMB 100m Series B funding led by Shenzhen Sunrise New Energy Co Ltd, with participation from Guoxin Fund.

        • The funds were used for team building and to shift to New Energy (electric) buses.

        May, signed a Valuation Adjustment Mechanism (VAM) agreement with Shenzhen Sunrise New Energy Co Ltd for an investment of RMB 640m in three installments. In return, DuduBus promised to increase the number of users to 8m and bus lines to 8,000 in 60 cities by 2018.

    • 2017–2018 - incubated bike sharing startup, Dududanche; shifted to B2B model; 1,000 business users; Huawei became its client.

      • Expansion

        1Q17, shifted its focus from individuals to business customers.

        • after the business model switch, DuduBus' monthly revenue increased by 200%. 
        • Half a year after the switch, the company broke even

        January 2017, partnered with its investor, Shenzhen Sunrise New Energy Co. Ltd., to co-found Dududanche, a bike sharing startup.

        2017, Huawei became its client for shuttle bus services for its employees

        May 2018, DuduBus signed contracts to provide shuttle buses to over 1,000 enterprise customers. It had over 3,000 lines in operation with vehicles from over 300 bus rental companies. 

    • By January 2019, DuduBus had signed contracts to provide shuttle buses to over 1,100 enterprise customers including Huawei, Oppo, Tencent, SF Express, China Unicom, Baidu and Skyworth. It had served 1.3m passengers in 50 cities.

    • Aims to complete Series C funding.

  • Business Model

    DuduBus rents buses from rental companies to provide bus service to its users, including businesses and individuals, and charges them for it. It also earns revenue from advertisements printed on the buses.

    Better user experience:

    Unlike crowded public transport, DuduBus provides bus services with better customer experience. All passengers have seats and the buses have less stops. It also provides breakfast, Wifi connection, first aid kits and raincoats. DuduBus can optimize routes based on accumulated data to increase operational efficiency. 

    DuduBus' SaaS to its enterprise customers enables clients to monitor the shuttle service, including checking real-time locations of a bus and requesting new routes.

    Shift in business focus:

    When it was founded in 2015, DuduBus initially provided bus services to individual users. Upon realizing the potential of bus services for businesses, the startup shifted its focus to corporate clients at the beginning of 2017 and broke even six months later.

FEEDBACK / COMMUNITY CONTRIBUTIONS

At CompassList, we pride ourselves on the accuracy of our information and reporting. Please help us by letting us know of any incomplete or inaccurate information on our website. Rest assured that we will handle every piece of feedback with care.