Thu, 26 May 2022
On this episode of Investor Connect, Hall welcomes Khalil Shalabi, Founder and Chief Executive Officer at Wyth.
Headquartered in Lemont, Illinois, and founded in 2018, Wyth is a new carpool and rideshare app and service exclusively for university students. It is a closed-loop system, whereby drivers and riders are from the university community (i.e.. students, faculty, or staff) making it a safer option than current services.
Wyth is a mobility solution for rides around college campuses (rideshare services for housing, campus, athletic events, and business district) and long-distance solutions during holidays and breaks (carpool services for students going home, school, or other places). Product-market fit is resounding with twenty-one (21) major universities interested. The market analysis of usage of “rides around campus” from 2 universities is UCLA with 11,000 rides/week and the University of Alabama with 40,000 rides/week. Wyth is a safer alternative to Uber/Lyft due to its closed-loop system whereby all users are vetted as part of the university community. The market potential for rideshare is $9B and carpool $4B. The university community is fully vested in saving the environment and their carpool solution can save the planet 5-10 billion pounds of CO2 emissions.
Khalil is an entrepreneur of over 40 years in multiple business sectors. He has started over 10 businesses and graduated from the University of Illinois at Chicago with a degree in BioChemistry. Khalil has 4 daughters who graduated from major universities and like millions of parents had to pick them up and drop them at their universities hence why he started Wyth.
He is interested in civic engagement and socially responsible corporate practices.
Khalil discusses his background, his main reason for starting Wyth, challenges faced in this industry, potential rewards, and how Wyth differs from competitors.
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Music courtesy of Bensound.