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Friday, February 23, 2024

Rapido to compete with Uber & Ola as cab service provider

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Bike-taxi and auto-aggregator Rapido is now the third largest ride-provider in cab services. The startup launched in Delhi-NCR, Hyderabad, and Bengaluru with 1.2 lakh cabs. Rapido plans 35 cities by September 2024.

Rapido, a bike-taxi and auto-aggregator, is now providing cab services. With this, the company became the third largest ride-provider. Rapido will compete with Uber and Ola.

Rapido Co-founder Pavan Guntupalli stated 1.2 lakh cabs have been deployed in Delhi-NCR, Hyderabad, and Bengaluru.
Rapido supports zero-commission.

“We want to expand to 35 cities by September 2024. App-based services have just 25% participation after 10 years. We want these guys online to boost the market. Guntupalli stated a zero-commission strategy will maximize company income without burdening users.

He said captains and driving partners will collect direct consumer payments without Rapido’s commission.

After earning a specific amount, they must pay a subscription fee.

While Rapido cab claimed to offer the lowest pricing in the market, a random check on the app indicated that its fare was greater than that of known online companies.

“The service has just been launched and the company will work with cab partners to get the cheapest fare across 80 per cent of the route in the city where it operates,” said Guntupalli.

He said Rapido will invest in electric vehicles but operate its remaining cab services at break-even.

Guntupalli said the company will expand to Mumbai, Pune, Kolkata, and Chennai in January-March 2024 and serve 35 cities by September 2024.

Conclusion

Bike-taxi and auto-aggregator Rapido has joined the cab services industry, becoming the third largest ride-provider. The startup launched in Delhi-NCR, Hyderabad, and Bengaluru with 1.2 lakh cabs. Rapido wants to expand to 35 cities by September 2024 to grow market share and revenue without burdening users. Captains or driver partners will receive direct payment from clients without commission cuts but will pay a subscription fee after a particular earnings level. Rapido will negotiate the lowest cab fares on 80% of its routes in its city. The company will invest in electric vehicles and run its cab services at break-even.

Sunil Pandey

The business professional who loves penning down his thoughts/ insights on business, entrepreneurship, & startups. His ability to break down complex business concepts into easy & concise write-ups makes him a wonderful author. He believes that writing is a powerful tool for communication and education.

Sunil Pandey
Sunil Pandey
The business professional who loves penning down his thoughts/ insights on business, entrepreneurship, & startups. His ability to break down complex business concepts into easy & concise write-ups makes him a wonderful author. He believes that writing is a powerful tool for communication and education.

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