Tumml cohort company Hitch – a multi-pickup ridesharing platform – has just announced that it has been acquired by Lyft, a ridesharing service known for its pink mustaches and fist bumping. Hitch was part of Tumml’s first cohort (Summer 2013), and we are incredibly happy for co-founders Snir Kodesh and Noam Szpiro and the entire Hitch team on a great outcome for all their hard work!
The Hitch news is also great news for urban innovation. In this burgeoning area of entrepreneurship, it is now clear that you can have a traditional exit that also advances an important social mission.
In the case of Hitch, the founders envisioned a ridesharing platform that used all the seats in a car, mitigating air pollution and creating an environmentally friendly outcome that truly leveraged the density of urban areas. Their vision is going to continue growing and expanding as the Hitch team joins Lyft Line – a community carpooling solution – to scale that promise across cities.
We’re excited for our first cohort exit, and look forward to many more positive outcomes for urban impact startups!