How Veo Built a Profitable Shared Micromobility Company with Candice Xie, Co-founder and CEO of Veo
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Show Notes
In this episode of the Micromobility Podcast, Prabin Joel Jones sits down with Candice Xie, Co-founder and CEO of Veo, to explore how a company that raised just $16 million built one of the only genuinely EBIT-positive shared micromobility businesses in the United States.
Candice walks through Veo's journey from a garage in Chicago to over $50 million in revenue, covering the decision to build their own hardware, why starting on university campuses was the right call, and what operational discipline actually looks like in a business this hard to make profitable.
The conversation also covers Veo's expanding vehicle lineup, the thinking behind keeping field operations in-house, and how they won the largest exclusive micromobility contract in the United States with Denver this year.
Topics covered:
• Raising less and building more
• Hardware, accessibility and the case for a broader vehicle lineup
• The campus-first market entry strategy
• How Veo reached EBIT profitability
• Why in-house operations matter more than most operators admit
• The Denver exclusive contract and long-term city partnerships
• What comes next for Veo in North America and beyond