The Wall Street Journal reports on the startup company founded in Ireland, Carma and their very generous incentive to improve their product. Carma’s founder Sean O’Sullivan is in the midst’s of developing his Ireland-based ridesharing software company. Recently O’Sullivan has put down $2.5 Million in the companies grand prize initiative to improve their software. He calls it the Carma Prize and Carma Axlr8r (a clever pun on the word accelerator as a metaphor for O’Sullivan’s attempt to accelerate the company through its product-building phase). The grand prize includes a $1 million cash prize for the first developer that uses Carma’s ridesharing API to create an app that produces 10,000 users per day during a 90-day trial period. There is another $1 million cash prize to any developer that creates an additional feature to their already existing app that results in 1,000 trips a day in a single urban area.
The Wall Street Journal compares this $1 million dollar cash prize to that of the $1.4 million cash prize that is given out for the Nobel Prize. Carma will also be adding to this prize money by investing $25,000 into companies that want to attempt to improve Ireland’s ridesharing through their accelerator, Carma Axlr8r.
Carma’s web application and mobile app allow for users to connect with other users or drivers heading to their same location. There is a small fee associated with joining this app. This is all done in real time, so users are able to make quick time decisions on where they want to go by using this app.
Carma’s goal is to help users find easy ways to carpool so that they can save on gas money and keep other cars off the road for less traffic and environmental damage. The app is currently available in Austin, San Francisco, Bergen, and Cork, Ireland. Carma is able to compete with companies like Uber and Lyft because people are able to get a cheap, affordable ride for only $4 whereas with Uber and Lyft, one would be paying closer to $20.
This article is based off of this article.