A new ride-sharing service is looking to take on Uber and Lyft, while spending significantly less than its competitors on marketing and recruitment, according to its chief executive.
Juno Founder and CEO Talmon Marco appeared on CNBC's "Squawk Alley" on Tuesday and said that he sees opportunities for his service to operate more efficiently than other ride-sharing giants.
"As a follower, there are opportunities for us to be far more efficient in terms of how we spend dollars to attract both drivers and riders," he said. "Our economics are much better because of it."
He said more than 50 percent of his business comes from word of mouth. His company targets current Uber and Lyft drivers who have high ratings. In order to drive for Juno, he said, drivers must be able to show they drive for one of the other two ride-sharing services and have high ratings.
Marco said Juno currently has more than 16,000 drivers, and the company gives them more of a sense of ownership than its competitors.
"Our drivers refer to Juno as 'we' — 'We at Juno,'" he said. "When was the last time you heard an Uber driver saying 'We at Uber?'"