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).
Most members of the Federal Reserve’s interest-rate setting committee supported further reductions to its key interest rate this year, minutes from last month’s meeting showed.
Sinead O’Sullivan breaks down Taylor Swift’s genius marketing for The Life of a Showgirl, which just set the record for most albums sold in a single week.
Markets are emerging from a turbulent Q3. Horizon’s Mike Dickson shares insights on interest rates, small caps, and where investors should look in Q4 and beyond
Bambu Ventures's Kyle Pretsch dives into Lemonaid’s $10M buyout, down from 23andMe’s $400M price tag, and what’s next after Chrome Co.’s dramatic pivot.
Former Cisco Systems CEO John Chambers learned all about technology’s volatile highs and lows as a veteran of the internet’s early boom days during the late 1990s and the ensuing meltdown that followed the mania. And now he is seeing potential signs of the cycle repeating with another transformative technology in artificial intelligence. Chambers is trying take some of the lessons he learned while riding a wave that turned Cisco into the world's most valuable company in 2000 before a crash hammered its stock price and apply them as an investor in AI startups. He recently discussed AI's promise and perils during an interview with The Associated Press.
Grove Collaborative’s CEO shares how the company is reinventing everyday goods with sustainability at the core and working toward a plastic-free future.
Atlanta Mayor Andre Dickens shares plans for affordable housing, community-led growth, and why private and public grocery stores could be key to food equity.
