INTERVIEW: Mike Peregudov - If Your Idea Doesn't Work Out, Try Another
The 10 Minute Entrepreneur
Sean Castrina
4.8 • 308 Ratings
🗓️ 14 September 2023
⏱️ 17 minutes
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Summary
Mike Peregudov is the co-founder and CEO of Whizz, a leading e-bike subscription service for delivery workers in New York.
ig: @mikeperegudov
Transcript
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| 0:00.0 | I'm excited about today's podcast. I have a CEO. I have a co-founder of an incredible |
| 0:16.5 | company called Wiz. They have an e-bike subscription service. I have Mike Paragudeff with me |
| 0:21.9 | here today. Mike, I hope I got that last name somewhere close to right. |
| 0:26.1 | It was quite close. Yeah, hi Sean. Great to be here. Hey, okay. So you took five million |
| 0:31.4 | dollars and you did something pretty good with it. Yeah, we tried. We were quite a fresh company, |
| 0:38.7 | just 18 months old, but growing fast, yeah, and raised about like actually 4.5 million in the |
| 0:45.8 | last 18 months. That's pretty it. A lot of people raise that money. They don't know what to do with |
| 0:51.1 | it. I mean, you all have, number one, it's a great business in general. I live in not a big town |
| 0:57.1 | and I see bikes like sitting on like near corner posts everywhere and it like runs right across |
| 1:03.0 | my office now. It just sits there and it's gone and then it's back and then it's gone and then |
| 1:07.8 | it's back. So, you know, the, you know, bikes in obviously a place like New York where it seems |
| 1:13.4 | like you guys are knocking it out of the park is huge. Yeah, absolutely. And it's not just regular |
| 1:19.8 | bikes. It's mostly electric. It's not mostly, but only electric bikes. Yeah. And electric bikes |
| 1:24.2 | is growing like crazy. The market is growing and also we are focusing on e-bikes, special e-bikes |
| 1:30.2 | for delivery services. So it's an e-bike for commercial use. So our main customers are |
| 1:36.2 | delivery drivers that work on platforms like Uber Eats, DoorDash, BrabFab, etc. So it's a |
| 1:41.4 | particular segment which is growing itself and e-bikes are also growing. So there are two markets, |
| 1:47.4 | electric transportation e-bikes and also delivery and both markets are growing and we are |
| 1:53.3 | in the intersection of these markets. So that's, I mean, that's exciting. And there are certain |
| 1:59.9 | areas where a car is just too slow. I mean, in other words, by the time you park it or double |
| 2:06.8 | park it or put your lights on and then you deliver it, you know, it's not a cost-effective model where |
| 2:13.1 | you could see where, you know, a bike is just an unfair advantage. Absolutely. And it's not only |
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