In a former parking garage near Hudson Yards in New York City, two Jonathan Cohens, co-founders of Joco, are revolutionizing the last-mile delivery industry with their innovative e-bike hub model. The 15,000-square-foot space, soon to be fully dedicated to electric two-wheelers, three-wheelers, four-wheelers, and charging light electric vehicles, is a testament to Joco's commitment to providing gig workers with a convenient, community-driven solution.

Joco's journey began in 2021, when the startup launched in NYC with a mission to compete against Lyft-owned Citi Bike with shared, docked e-bikes. However, the NYC Department of Transportation promptly sued Joco for operating a bikeshare without prior authorization, forcing the startup to pivot towards last-mile delivery. This unexpected turn of events proved to be a "blessing in disguise," as Joco's focus on gig workers and enterprise customers helped the company become profitable, with "real salaries" and no reliance on venture capital.

The Cohens' customer-centric approach has been instrumental in Joco's success. The startup offers gig workers a unique concierge service, providing them with a pit stop to rest, charge their phones, and even pray. This attention to detail has fostered a sense of community among Joco riders, who often wave and greet each other on the streets. The company's commitment to customer satisfaction is evident in its willingness to go the extra mile, literally, as Cohen (London) recounts a Sunday morning when he rented a car to retrieve a broken bike and return it to a rider in Manhattan.

Joco's business model is designed to provide high-quality e-bikes at a reasonable cost, with riders able to lock and unlock bikes using an app. This convenience, combined with the company's focus on customer loyalty, has enabled Joco to generate significant revenue per bike. The startup's fleet management technology, servicing, and maintenance, docking stations, and battery charging cabinets have also become a growing vertical, particularly in NYC where battery fires have led to e-bike bans in many buildings.

The company's growth has been remarkable, with a doubling of its gig worker vertical every month, mainly through word of mouth. Joco's cash flow is funding its expansion, rather than venture capital, a testament to the Cohens' focus on execution and financial prudence. The startup's lean operations, with a corporate team of seven and a total of 50 employees across various functions, have enabled it to keep costs low and scale efficiently.

Joco's plans for near-term growth are ambitious, with the goal of increasing its gig worker fleet from 3,000 to 10,000 by the end of 2025 and building out new docking stations in Brooklyn and Queens. The company also aims to deploy 1,000 battery charging cabinets in buildings and double its B2B footprint in the next 13 months. With a congestion pricing plan set to take effect in NYC in January, Joco is well-positioned to capitalize on the growing demand for sustainable, efficient last-mile delivery solutions.

In a market where many hardware-as-a-service startups have struggled to scale, Joco's innovative approach and customer-centric focus have set it apart. As the company continues to expand its operations and services, it is clear that Joco is revolutionizing the last-mile delivery landscape, one e-bike at a time.