Bike taxi startup Rapido is expanding its services by entering the cab segment, currently dominated by Uber and Ola, according to media reports.
The Bengaluru-based startup has started testing cab services in Hyderabad and plans to introduce them in other cities as well. In addition, Rapido is looking to integrate intercity bus ticket booking within its app through a partnership with Zingbus, a Delhi NCR-based startup that offers intercity bus travel.
Rapido recently launched a premium auto rickshaw service called Auto Plus in Bengaluru. With a fleet of five million bike taxis and 700,000 auto-rickshaws, Rapido operates in over 100 Indian cities and has over 25 million app downloads. The move to enter the cab segment is aimed at growing Rapido’s revenue and attracting new customers while retaining existing ones. In the financial year 2021-22, Rapido’s net loss increased by 163 per cent to Rs 439.02 crore, while revenue from operations doubled to Rs 144.77 crore.
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