From 0 to 32,000 Cyclists: How Malthe Luda Bootstrapped grouprides.cc in Just 2 Years
Volume #7 of "Happy Bootstrapping" Newsletter - Learning Languages with Jicki
In this recent episode 115 of Happy Bootstrapping, Malthe Luda, co-founder of the design agency Swipe Circus and the cycling platform grouprides.cc, shares insights into his founding stories.
With grouprides.cc, he has created a platform that brings cyclists together for group rides while providing valuable marketing and analytics capabilities to bicycle manufacturers – all without external financing.
From Books to Digital Platform – The Creation of grouprides.cc
What began as a pandemic project publishing books about cycling routes evolved into a comprehensive digital platform. Malthe identified a market gap: cyclists had no central hub to find or organize group rides. "It's super annoying when you want to ride somewhere and first have to go down a rabbit hole to find out when group rides are happening in Frankfurt," he describes the problem that motivated him to create the platform.
The platform allows anyone to create or participate in cycling events without downloading an app or complex registration – whether with a road bike, gravel bike, or mountain bike. The focus is on connecting in real life: "We're something like Eventbrite for cycling events," Malthe explains.
Business Model and Numbers
Grouprides.cc employs a clever freemium model. Basic use of the platform is free, while premium features like recurring events are included in paid plans. Revenue streams are diverse:
Community rates starting at 5 euros per month (annual billing) for cycling clubs and loose communities
Local dealers pay 39 euros monthly
Enterprise customers (bicycle manufacturers) pay 499 euros monthly for advanced features such as API integration with CRM systems and analytics dashboards
"Our idea behind this is that cycling is already an expensive sport, and we don't want to make it even more expensive by requiring participants to pay."
The platform boasts impressive numbers: By October 2024, around 5,000 rides were organized, including 2,800 road bike outings and 1,200 gravel rides. The site has approximately 15,000 registered users and 32,000 participations. Particularly noteworthy: on average, each host creates 10.7 rides – a clear indication of the platform's user-friendliness.
A new revenue stream is currently being implemented: a payment function for paid training rides where grouprides.cc receives a commission – similar to the Airbnb model.
Technology and Marketing
The team deliberately avoids a native app: "There isn't a single function on our platform that we can't implement through the web app," Malthe emphasizes. This decision significantly reduces development effort.
For marketing, grouprides.cc benefits from impressive organic reach – about 50% of traffic comes through search engines or social media. The name is self-explanatory: "You type 'GroupRide in Stuttgart' into Google, BAM, we're number one." Additionally, partner brands like Scott, Rose, Focus, Specialized, and others act as multipliers, promoting their events through the platform.
"Good work leads to more good work."
Bootstrapping Lessons from Malthe
The key insights from Malthe's bootstrapping journey:
Efficiency instead of scaling through headcount: "We don't scale by adding people, but through processes, because someone who constantly hires new people ultimately has to take on more jobs."
No workaholic culture: A four-day workweek at the agency enables work on the startup.
Clear prioritization: "You simply have to prioritize and remain consistent."
Quality over quick profit: "There has never been a 'This doesn't sound great, but we'll take the money quickly' in our history – it has never worked."
Authenticity instead of classical agency pretense: "Why are we all deceiving each other? Let's just make things as efficient and simple as possible."
With grouprides.cc, Malthe impressively demonstrates how to build a successful digital product with a clear vision, lean structures, and without external capital.
Happy Bootstrapping is a German podcast where I interview bootstrapped founders, indie hackers, and solopreneurs about their startup journeys. Over the years, I've connected with many successful entrepreneurs who have built e-commerce shops, SaaS platforms, mobile apps, content businesses, or hybrid models.
Furthermore I am a bootstrapper myself and growing my DevOps-as-a-Sercice and Web Operations Company “We Manage”.