If you’ve ever wanted to joke about something that would make Henry Ford roll over in his grave, this could be the time. The automaker’s founder’s great-grandson appears to be staking some of his financial future on train tickets.
In this case, Bill Ford, Jr. and his venture-capital firm Fontinalis Partners are leading a $2.8-million financing round for London-based Masabi, Giga Om says. Masabi is the developer of JustRide, a cloud-computing based app that lets smartphone owners hop out of their private vehicles and buy and store transit tickets on their mobile devices.
Lest anyone believe that it’s a foolish bet, JustRide appears to be gaining popularity rapidly. Launched in November, JustRide has processed about $50 million in mobile transit tickets. The service also won a contract to provide mobile-transit tickets for Boston’s Massachusetts Bay Transportation Authority.
Actually, despite our lede, the Ford company is already involved in shifting from just cars to focusing on mobility. The company is working with Zipcar and recently announced Ford2go.
By Danny King