Description
Membership Terms for Shareholders in Portland
As a member of Fare Co-op in Portland, you have two options:
1. Fractional Shareholder
- No annual fee
- Earns 55% of platform profits*
2. Full Shareholder
- Full ownership, earning 85% of platform profits*
- Payouts are made instantly via Stripe (a 5% Stripe fee applies to instant deposits)
- Current share cost: $400
- Maintenance Fee: $52.50/month per share
Why the Maintenance Fee Matters
The $52.50 monthly fee is critical to the growth and future value of your share. It funds:
- Expansion of our business in Portland
- Airport permits and compliance
- Marketing and advertising campaigns
- Member meetups and community events
- Ongoing app development and new features
- Continued expansion of Fare Co-op across the state
This investment ensures your share value continues to grow toward our planned IPO within the next 2 years. After the IPO, the increased value of your share is intended to serve as collateral for financing driverless vehicles, allowing drivers to own the very vehicles that will shape the future of transportation.
Important Clarification for Full Members
- Members who pay the monthly maintenance fee:
Their share value will grow with the Co-op’s expansion and move toward IPO appreciation. - Members who do not pay the monthly fee:
Their share will be frozen at the original purchase price and will not grow in value alongside the Co-op.
Refund Policy – Full Membership
- Full refunds are available only within the first 3 days of purchase.
- After 3 days, refunds are no longer available, as all proceeds are reinvested into Co-op growth (marketing, app development, airport fees, operations).
- If you cancel after 3 days, refunds will only be issued if and when the Co-op becomes profitable or secures new investment.
- Refund requests due to unforeseen circumstances will be reviewed on a case-by-case basis by the Federation.
* Profit Share Notes:
- Full shareholders: 85% of profits, paid instantly via Stripe (5% Stripe fee applies).
- Fractional shareholders: 55% of profits.
