Cargo Raises $22 Million to Sell Snacks to Uber Riders
*By Bridgette Webb*
In-car commerce start-up Cargo wants to do more than expand internationally, said the founder and CEO.
"We got big plans," Jeff Cripe said Tuesday in an interview on Cheddar.
Cargo raised $22 million last week in a Series A funding round, bringing the company's grand total to $30 million. With the new capital, Cripe said he wants to bring "other digital services, whether it's gaming or entertainment or different media opportunities, for passengers to improve their ride or make it more productive."
Founded in 2017 and based in New York, Cargo may be best recognized by its plastic display cases in the backs of Ubers. Items for sale range from chocolate bars to headphones.
For revenue, the company relies on partnerships with big brands like Kellogg's ($K), The Coca-Cola Company ($KO), and Red Bull. Those partnerships are also exclusive, Cripe said.
"We have an advantage there," he said of the start-up's relationships.
The latest funding comes on the heels of Cargo's exclusive partnership with Uber and an international licensing deal with the Singapore-based ride-hailing app Grab.
The financing was led by Founders Fund, run by venture capitalist and PayPal ($PYPL) co-founder Peter Thiel. Other investors include Zynga ($ZNGA) founder Mark Pincus, Twitch's former chief security officer Colin Carrier, and former NBA commissioner David Stern.
For full interview [click here](https://cheddar.com/videos/cargo-raises-22-5-million-as-it-continues-to-expand).
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