Below is our recent interview with Binu Girija, the Founder & CEO of Way.com, Inc.:
Q: How did the idea for Way.com originate?
A: I was in San Francisco for a business meeting and was running late. I parked in a lot, and then afterwards realized I had paid triple the price as the lot right next door. As I thought to myself, “that doesn’t seem fair,” I also had an aha moment that I could create a fair and transparent marketplace for car expenses. Fast forward to today, where we are the #1 car super app.
Q: How are you populating data from all these different service systems? And how to ensure information is current, without giving away your intellectual property secrets?
A: We have automated API integrations with several partner systems in the areas of parking, ticketed events, insurance, and financial systems.
Q: Do you feel this app is primarily for urban users – and are you geotargeting around larger metro areas?
A: It really depends on the vertical. For city parking, it obviously favors the more metropolitan areas where parking can be limited. Our insurance vertical, auto refinance, and car wash are all nationwide.
Q: What key features can be applied for users in the burbs or more rural locals?
A: Everyone is looking for the cheapest deals on car insurance, so that will be one that everyone can benefit from, as well as auto refinance. And our new roadside assistance product Way+ can come in handy regardless of your location. We have a large network of 30,000+ tow truck drivers we work with so that regardless of your location, we will be able to assist you.
Q: Way.com does a lot from parking, to insurance, to car wash – what would you say is your “gateway feature?”
A: We launched with parking and have seen millions of customers then cross over into our other verticals. But that is really the entry point for most people, who have a great experience paying less for parking.
Q: If a Way.com was used to its full potential, how much could a user in Los Angeles save per year? Ballpark.
A: With our insurance alone, a customer could save up to 1k per year on their policy. If you add in savings from parking, car wash, and auto refinance, you are talking close to 2-3k a year on savings for car expenses.
Q: Is the Insurance part of the app difficult to navigate for consumers and save money?
A: It’s one of the easiest product features in our app. In a few steps and about 30 seconds, you will have the best quotes delivered. If you don’t want to talk to an agent, you can get a completed policy online with us. It’s pretty cool and a big differentiator between us and the competition.
Q: What’s next for Way.com?
A: More savings for our customers. Our mission is to make car ownership more affordable for all Americans. We are launching a cash for gas program in June which could save people up to .60 per gallon. EV charging station locators are also coming this spring, and there are a lot more product enhancements and features coming in the second half of the year that will make life so much easier for everyone. You’ll have to wait and see!