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Name: Matthew Iommi
Company: Fetii
What are you building, and who benefits most from it?
I am building Fetii, a rideshare app that transports groups together and on demand. Utilizing a network of 15-passenger vans, groups no longer have to split up and take multiple cars. Whether it’s a night out with friends or a happy hour with co-workers, everyone can ride together in a Fetii!
What is one of your startup’s most impressive accomplishments?
One of Fetii’s most impressive accomplishments and what I’m most proud of is the multitude of positive benefits Fetii delivers. Our users create lasting memories by being able to be with their loved ones, our fleet operators and drivers earn great incomes that allow them to support their families, and the world benefits from us taking unnecessary vehicles off of the roads (reduction in congestion and emissions).
What has been the biggest challenge so far, and how did you overcome it?
The biggest challenge thus far was 2020, when the pandemic hit. Our team understood that our core rideshare product would be placed on hold for the foreseeable future, so we pivoted and utilized our QR check-in technology to provide Texas A&M (my alma mater) with a contact tracing app that allowed it to reopen its universities quicker and more safely.
What tool or app could you not live without and why?
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I would have to choose the iPhone, and I may be biased given that Fetii wouldn’t exist without it. Apple built a revolutionary product that has created an entire economic system and provided incalculable benefits to millions of people, myself included. The iPhone serves as a device for instantaneous communication across boundaries, GPS navigation, entertainment, news delivery, internet access, and more.
What marketing strategies have worked for you?
Our best marketing strategy has been word of mouth. We’ve focused on creating a product that our users can be proud of and willing to share with their network. Fetii is a unique business in the sense that when we convert one user, we convert 7-14 other people who also try out the product.
Can you share any financial data about your startup?
Fetii currently operates in seven cities across the U.S. and has transported over one million passengers. (Reported on June 07, 2023.)
What has been your biggest business failure to date? What did you learn from it?
Early on, we made the mistake of misjudging the demand for a particular service expansion. Despite conducting market research, we underestimated the preferences and needs of our target audience. This failure taught us the significance of gathering comprehensive market insights and conducting thorough demand analysis before making strategic decisions.
What’s the best specific piece of advice you have for other entrepreneurs?
My advice for other entrepreneurs would be to surround themselves with motivated and driven individuals. Fetii has been able to scale and grow solely as a result of our team’s efforts, and I have been blessed to work on this product with some of the brightest people on earth.
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