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Govt to launch 'Sahkar Taxi' service across India to compete with Ola, Uber

EntrackrEntrackr · 4m ago
Govt to launch 'Sahkar Taxi' service across India to compete with Ola, Uber
Medial

The Indian government is set to launch a new cooperative-based taxi service called "Sahkar Taxi" across the country to offer an alternative to popular ride-hailing platforms like Ola and Uber. The move will put the government in competition with Uber, Ola, Rapido, and emerging app-based cab aggregators such as BluSmart. The government announced the plan in Parliament on Wednesday, stating that the new service will register two-wheeler taxis, rickshaws, and four-wheeler taxis. Unlike existing private company services, Sahkar Taxi will ensure that all profits go directly to the drivers rather than large corporations. A similar model already exists in West Bengal with the launch of Yatri Sathi by the Mamata Banerjee-led TMC government. Initially introduced in Kolkata, the service has since expanded to other cities, including Siliguri, Asansol, and Durgapur. Meanwhile, in Karnataka, a privately owned taxi service app called Namma Yathri follows a similar model by ensuring that all profits go directly to the drivers.

Rapido claims 207 Mn rides in Q2 FY25 with 2.5x surge in GOV

EntrackrEntrackr · 8m ago
Rapido claims 207 Mn rides in Q2 FY25 with 2.5x surge in GOV
Medial

Ride-hailing firm Rapido reported a 2.5x year-on-year growth in its gross order value (GOV) to Rs 2,461 crore in Q2 FY25 from Rs 977 crore in Q2 FY24. During this period, the company also saw a two-fold increase in rides to 207 million. It's worth noting that Rapido already claims it is now the second-largest ride-hailing service after Uber, surpassing Ola in the bike, auto, and cab segments. According to Rapido, its streamlined cost structure contributed to a reduced quarterly loss of Rs 17 crore in Q2 FY25 from Rs 74 crore in Q2 FY24. With an average of 2.6 million rides daily, the Bengaluru-based firm serves 17 million monthly passengers through a network of 2 million drivers. The company’s expansion into cab services and the addition of a Software-as-a-Service (SaaS) model have broadened its offerings and boosted driver earnings. Rapido added that it reduced fixed costs per order by 50% while strategically investing in new categories and marketing. The company disclosed its key metrics soon after filing its annual financial report for FY24, which states that its revenue from operations grew 46.3% to Rs 648 crore from Rs 443 crore in FY23. The firm also reduced its losses by 45% to Rs 371 crore. In FY24, Rapido reported a nearly 2x increase in Gross Order Value (GOV) to Rs 4,257 crore from Rs 2,419 crore in FY23. This growth was driven by a 1.5x increase in ride orders, with Rapido recording 450 million rides during the period. Rapido attributes this growth to service expansion and strategic marketing investments, which have boosted brand visibility, increased customer acquisition, and driven higher ride volumes. Rapido recently achieved unicorn status after securing $200 million in a Series E funding round led by WestBridge Capital. It has raised more than $500 million to date.

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