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Taxis For Sure Selling - Why Did It Happen?
In the early second half of the 21st centrury, based on the boom of the 21st centrury economies, unaffected by the deceleration of the last ten years, India's consumption patterns moved towards comfort and on-demand service. Privately owned shuttle service took the driver's place in order to drive the expansion of the previously non-existent area of e-commerce - Taxi on Demand.
Ola and TaxibetriebForSure joined the company in 2011 and transformed the taxi services sector. Taxis as inexpensive as car rickshaws aroused the customer's interest in these taxi services. They tried to resolve the classical issue of making wireless taxis available on call to resolve the point-to-point journey issue.
Besides the solution of the problems, the most important thing was the way they resolved it - TaxisForSure altered the faith that you have to own your own taxi company to operate a taxi shuttle business! Raghu & Aprameya was able to find the unused services of the locals through research. They were small player fleets and fought mainly because of the shortage of back-end supports, such as determining the taxi's precise position and then making sure it was picked & dropped on time.
These two did what they did: link the client and the supplier with the help of basic technologies. Contacting the fleets and bringing them on board, they made a large reduction of 10-12% per order. Unlike other gamers - All other big entrants like Ola, Uber, Meru, Easycabs had a different type in comparison to TFS.
Those guys thought they could connect the taxi driver directly with the client. TFS has launched its wireless taxi services in Bangalore in 2011. In the absence of a fleets, it was cheaper to extend its bases to other towns. GoIbibo was followed by GoIbibo and provided a transfer from and to the airport.
As a result of the company's expanded operations in new towns and increasing competitive pressure, cashburn was enormous - at 17 Crore. By the way, in October 2014, the purchaser - Ola Cabs - had obtained $210 million in financing from the large investment firm Softbank of Japan, which was engaged in a similar sector consolidating in China, where Softbank took over the taxi services company Kuaidi Dache.
There was a rider incentives program - riders could get 8000 tons of incentives if they made 40 rides. In addition, it amended the driving incentives program from week to day, whereby riders would be able to receive an -500 for five, 800 for seven and 1000 for ten journeys.
With Ola's introduction of Ola Woodallet, Ola promises a 100% refund on the first charge by 14 October. At Ola we lost around 200 INR/order with kind permission of our cashburn driver and customer registration policy. Waiting, TFS observed that Ola would stop the cashburn tactic. Taxis For Sure Joined Cash- Burns Bactics - Once you know that Ola won't stop the cash-burns play, TFS leapt into the play with all its assets.
Thanks to the clients who usually took TFS taxis for at least 4 kmtr., TFS was able to resume its tariff on INR 49 for 4 kmtr. and 15 INR/Km. thereafter. TFS also began to burn currency at 150 INR/Trip rates. Softbank's Ola Investments - During 2014, individuals questioned the durability of the India taxi services industry.
All Out TFS Assault to Win Markets - In hopes of raising new funding soon, TFS tried to extend its base to other towns. Although it was short of money - only $8 million - it expanded into new towns like Hubli, Ahmedabad, Mysuru, Calcutta and Chandigarh. "The majority of analysts considered this to be an excellent investment in the India taxi industry as a billion dollars match.
The first few laps with TFS's investor base went well and TFS was confident that it would be able to generate large sums of money. Incidentally, while the TFS creator was in the USA for the next round of investor discussions, an India meeting altered the course of the India taxi business. Raping a client by one of Uber's drivers posed the issue of the protection and protection aspects of the work.
TFS received a takeover bid from Uber and Ola in January 2015. TFS therefore resolved to enter into discussions with these two leading players on 'Taxi For Sure Sale'. ABOUT THE ORGANIZATION about the organization agreement - Although the discussions with Uber went well, there were some points against the agreement.
The TFS had 1,800 employees in India. Uber also only thought of a driver-guided vehicle, so that our drivers (people who own and run a taxi fleet) would also ride with us. Like per Aprameya, learn from Taxi For Sure Sale were to keep the consumer above all others. React to the markets and think differently.