Gbike

About Gbike

Gbike operates the personal mobility sharing platform GCOO, a prominent service in South Korea's micromobility market. Founded in August 2017 by CEO Walter (Jong-soo) Yoon, the company has established itself as a key player in the industry. Yoon, who previously worked as a software developer in the U.S. and holds an MBA from Chicago, initially launched a shared bicycle service in 2018. Facing challenges with seasonal demand, he pivoted the company towards electric-powered mobility, launching the shared e-scooter service 'Gcooter' in January 2019. This strategic shift proved successful, positioning Gbike as a market leader.

The company provides shared e-scooters and e-bikes, addressing the last-mile transportation needs of users in urban and campus environments. Revenue is generated through a pay-per-ride model, including a distance-based fare system, which differentiates it from time-based models and is designed to promote safer riding habits. Gbike serves a broad customer base, with a significant presence across numerous cities in South Korea. The business model is vertically integrated, encompassing in-house manufacturing of its vehicles, battery development, and a directly employed operations team, which facilitates efficient management and service optimization. This control over its hardware and software allows the company to enhance service quality through big data and AI.

Gbike's service, rebranded to GCOO for global markets, operates via a mobile application that allows users to locate, unlock, and pay for their rides. A key feature is the development of its own e-scooters and a universal, swappable battery system, aiming to create a robust infrastructure. Having expanded its operations to the U.S. and Thailand, the company is also targeting further international growth in markets like Vietnam. The company has secured significant funding, including a Series C round, to fuel its domestic and global expansion and is preparing for a potential IPO in 2025.