Apollo CEO: U.S. ‘Industrial Renaissance’ Boosts Fundraising
November 22, 2024
Founder and CEO
Perseverance and maniacal focus on customer success are the two key strengths of Binu Girija, Founder, and CEO of Way. com. This can be witnessed in style he leads the company over the past 5 years from facing startup existential challenges to the pandemic reducing the company’s top line by 60 % in 2020, since travel had essentially vanished that has been strong and unwavering. Under Binu’s leadership, Way.com was able to rebuild its business by pivoting to new lines of business that complemented existing lines. A V-shaped recovery was achieved, and the company is on a growth path to achieve significant revenues. Binu has grown the registered user base from zero in 2015 to almost 4 M in 2021. Because the company is a D2C company, he has taken special care to focus on his customer base. The fundamental value proposition of Way.com to the user is lower cost and convenience.
But, success did not come easy. After witnessing four failed ventures, Binu incorporated Way.com, which became a huge hit. Way.com, a services marketplace that connects local commerce with smart city technology. Binu’s expertise in city technology has led to advancements in parking tech and has changed the way people think about parking – from all major airports to all metropolitan cities. Way.com is the fastest growing company in the parking services sector and will be the first domestic tech company to bring smart city integrations to the U.S.
Binu’s role model has been Elon Musk, whose ideology and innovation have inspired the steadfast leader to move towards productivity. “I like the quality of bias towards action. I like being not to suffer from analysis paralysis in any way. I like to be in aggressive optimism and focus on causes of problems, Not the Symptoms,” he says. But, being a leader has both its ups and downs. “The most difficult part of being a CEO is the loneliness at the top.
It is not possible to share all worries and concerns with everyone in the organization; we have to think of creative ways to seeking inputs that can benefit the decision-making process from every angle.” The fun part of being the startup CEO is to have the unfettered ability to think and think out of the box. “In today’s world there is a continuous discovery process involved in building a company. This leads to a bias towards action – an absolute must for success.”
The company’s complete car companion finds and reserves the best city and airport parking and sets customers up with the top-rated car washes in the area. The entire car companion finds and secures the best city and airport parking and sets customers up with the top-rated car washes in the area. They are the first automotive super app, which provides convenience and fair price. Alongside, Way.com offers Way Bucks a loyalty program to encourage customers to stay on the Way.com platform. It makes a lot of sense since all the car-related services on the forum are complementary. Way.com’s core value proposition to its customers is lower cost and more convenience. By using more of Way.com’s car services, customers can build up their “loyalty points” and gain more economic benefits.
What differentiates the company is that Way.com’s Business is a “platform play” that will allow it to scale much faster than its competitors who provide the same car services in a “pipe play” that is asset-heavy.
Way.com’s platform leverages technology to aggregate and scale both the supplier/vendor and user/consumer sides. Way.com can grow like AirBnB and DoorDash in an identical asset lite manner by providing a full suite of services. The company’s growth proves this point. Way.com has invested millions of dollars in infrastructure and built tools to help independent business owners to succeed in their platform data analytics that help independent business owners to understand better, reach more customers and boost revenue.
Its most significant achievement is its ability to think big over a longer horizon and take small concrete steps to achieve its goals. “We started with simple airport parking seven years ago, today we are a Fintech Platform for all car related services, growing rapidly in the USA,” explains Binu. “We will continue to add new services to this platform and grow our registered user base to more than 4 Mn.”
For the days to come, Way will continue to add other Car related services on its Insuretech/Fintech Platform. Auto Finance and Road Side Assistance are examples of new services introduced shortly to complete the full suite of car services available. “We have a forwarding looking growth strategy that has been built on past successes; we have identified several adjacent opportunities in car services where we will grow using our technology platform. Way.com has the potential to be the leader in its market,” adds Binu.
“Under Binu’s leadership, Way.com was able to rebuild its business by pivoting to new lines of business that complemented existing lines. ”
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