G-Bike, the operator of the personal mobility (PM) sharing platform GCOO, announced on the 26th that it has achieved the industry's first cumulative 100 million rides.
GCOO started South Korea's first shared scooter trial service in July 2018, and in about four years by August 2022, it was the first to surpass 50 million cumulative rides. The achievement of 100 million rides took just over a year, indicating a steep increase in user numbers and strengthening the company's leading position in the industry.
In fact, GCOO has the largest number of users among private PM operating companies. According to Mobile Index, as of August 2023, GCOO’s monthly user count (Android-based) is 283,737, which, excluding Seoul’s public bicycle Ttareungyi, ranks first in the same industry. The cumulative number of registered customers exceeds 3.3 million.
In terms of revenue, GCOO leads Asia. In 2022, GCOO recorded sales of 52.2 billion Won, higher than any other company operating in the Asia-Pacific region. Its operating profit was about 8.3 billion Won, marking notable performance while most domestic shared PM companies struggle with monetization.
The company has also jumped to the largest scale in the industry in terms of device numbers through aggressive expansion. Currently, GCOO's electric scooters, e-bikes, and other devices total about 110,000, establishing a significantly superior quantitative infrastructure compared to other companies. Furthermore, as Korea's only native global company, it is actively expanding services overseas, including the United States, Thailand, Vietnam, and Guam around the Pacific.
G-Bike CEO Yoon Jong-Soo expressed his satisfaction, "Having been at the forefront for many years, we attempted a bold expansion in quantity, and thankfully we were able to quickly build the golden tower of ‘the industry’s first 100 million rides’".
He then stated, "I believe that the figures GCOO has achieved without advertising, such as 150 billion Won in cumulative sales and 100 million rides, serve as evidence that PM is solidifying its position as a new mode of transportation," and added, "We will continue to lead the effort to have PM recognized as a convenient and safe mode, moving forward."
Meanwhile, GCOO, as a director of the Korea Personal Mobility Industry Association (KPMIA), is also taking the lead in spreading PM safety culture. They continue to run safety campaigns with national middle and high schools, universities, the Road Traffic Authority, the police, and are leading the introduction and education of PM licenses and other systemic improvements, demonstrating their commitment as the leading brand in the industry.
