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).
Higher rents and food prices boosted overall U.S. inflation in December, a sign that the Federal Reserve's drive to slow inflation to its 2% target will likely remain a bumpy one.
Tech companies of all sizes are showing off their latest gadgets at CES 2024 in Las Vegas. And that includes new technology that's changing the world of food and drinks.
Matt Hougan, CIO of Bitwise Asset Management, gives Cheddar the latest on the Securities and Exchange Commission approval of bitcoin ETFs. Hougan calls this time a 'potential major milestone for bitcoin.'
LeBron James has agreed to an exclusive deal with Fanatics Collectibles. James and his son, Bronny, will appear together on a unique sports trading card to herald the Los Angeles Lakers superstar’s new multiyear partnership with Fanatics.
Joe Zhao, Managing Partner at Millennia Capital, joined Cheddar to discuss the latest stock moves and how the market is being impacted by artificial intelligence.
Wall Street was quiet early following a lackluster session a day earlier as markets await U.S. inflation data and high-profile corporate earnings reports later in the week.
The World Economic Forum says false and misleading information supercharged with cutting-edge artificial intelligence is the top immediate risk to the global economy.
