We’ve sacrificed £11 million since we launched: Forest calculates how much their ‘10 minutes free daily’ has saved Londoners
To celebrate surpassing 1 million users for the first time, we decided to calculate how much we’ve saved Londoners in three years. Turns out it’s quite a bit.
This year has been our best performing yet, with over 1 million trips a month this summer. In total, 7.2 million miles have been cycled for free on Forest bikes, which has helped us surpass 1 million registered users for the first time.
To add to our billboard, we’ve placed one of our e-bikes under the billboard with a new message where the QR code to unlock the ebike is meant to be. The message informs you that this bike cannot be rented, and you are instead given a unique code for 100 free minutes for the inconvenience, increasing the number of free minutes given away to our Forest riders even further. The billboard can be found on Mansell Street, London, E1 8AA.
Agustin Guilisasti, CEO & Co-Founder of Forest, said:
“This is Forest’s first ever billboard campaign, so we wanted to seize the opportunity to make a bold, but genuine statement. We often get asked what’s different about Forest, and whilst there are a number of differentiators, our 10 free minutes of riding every day is a unique, unwavering and unmatched identifier of the Forest brand and our mission. It’s something we’ve offered riders since day one so we wanted to shout about how far we’ve come in just 3 years.
“The shared e-bike market in London is booming, so we could easily just charge the same as our competitor and be better off as a business by now. We’ve made a conscious decision not to do this, as it is and will always be our mission to make zero emission travel actually affordable for Londoners.”
How did Forest estimate that they gave away £11 million?
The £11 million figure was calculated by multiplying 51,899,782 million free minutes enjoyed by Forest riders since September 2021, by the standard cost-per-minute riding rate from £0.15 per minute in September 2021, to the current price of £0.29 per minute in September 2024.
Images of the billboard can be accessed here.
