Cargo Expands Commerce in Ride-Hails Through Venmo Partnership for Payments
*By Tracey Cheek*
According to Cargo's CEO and founder, his latest partnership with Venmo "was such a no-brainer."
Cargo is essentially an in-car vending machine ー a box containing snacks and personal items for purchase installed on the center console of some Uber and Lyft vehicles.
According to CEO Jeff Cripe, since so many riders were dividing their Uber and Lyft fares with Venmo, it made sense to make Venmo the payment option for their in-car purchases. Now, Venmo-happy millennials can purchase Cargo items through the app during their rides.
"Tons and tons of Venmo transactions were actually peer-to-peer to pay for Ubers, so it made sense for them to add that," Cripe told Cheddar Friday.
"Obviously that means adoption of our consumers who are primarily millennials in the back of those cars would prefer that as a form of payment to transact for goods in their rides."
Since its launch in 2017, Cargo has grown to $30 million in venture funding. The in-car commerce company plans on continuing to grow its presence in key ridesharing markets in the new year.
For full interview [click here](https://cheddar.com/videos/cargo-meets-venmo-in-car-commerce-just-got-easier).
Lara Rhame, FS Investments chief U.S. economist, discusses the recent market highs, how the job market is in a ‘good place,’ and why rates staying higher for longer might not be a bad thing.
Co-founder and CEO of Colossal Ben Lamm explains how the company is working to bring back extinct species and shares early details of the upcoming documentary from the ‘My Octopus Teacher’ filmmaker.
Soundhound AI co-founder, president, and CEO Keyvan Mojaver discusses bringing its audio tools to cars and drive-thrus, plus why smaller companies may benefit from the A.I. boom.
Deiya Pernas, co-founder of Pernas Research, breaks down Nvidia’s blockbuster earnings, why energy is a sector to watch, and why the A.I. trend is far from over.
The NBA is organizing its next media rights deal to figure out which networks and streaming services will show their games for the next decade. Last time, most of the prominent streaming services didn't exist yet.
