Facing problems each day to reach office on time? Don't want to travel with the group, want to go alone to the destination? Driver's not at home and meeting your friends outside is too urgent? Neither mom nor dad is ready to take you to your tutions at this point of time? Feeling bored alone and want to go outside? Can you imagine that a company is willing to touch 1 million rides by 2020? They are specially being funded by Westbridge Capital as the goal is to expand more.
Problems and facts are found everywhere.
So, now there is no need to worry anymore because Rapido has come to relieve all from their respective headaches. Now all you need to do is install the app and go anywhere in the city safely. Even at night times because everything can be tracked online. Read the Rapido success story below and get to know more unknown facts.
Company Highlights
| Startup Name | Rapido |
|---|---|
| Headquarters | Bengaluru, Karnataka, India |
| Sector | Mobility Tech |
| Founders | Pavan Guntupalli, Rishikesh SR and Aravind Sanka |
| Founded | November 2015 |
| Parent Organization | Roppen Transportation Services |
| Website | rapido.bike.com |
Rapido - About
Rapido - Founders And Team
Rapido - Startup Story
Rapido - Business Model
Rapido - Revenue Model
Rapido - Tagline, Slogan And Logo
Rapido - Funding And Investors
Rapido - Growth
Rapido - Competitors
Rapido - Future Plans
Rapido - About
This is a Bangalore based Indian online bike taxi aggregator which was founded in the year 2015. It operates in 15 cities across the country but also runs into various places. It has got more than 15000 registered riders a day. Also it operates in more than 90+ cities all over India.
StartupTalky
Rapido - Founders And Team
Pavan Guntupalli, Rishikesh SR and Aravind Sanka are the founders of Rapido.
- Pavan Guntupalli is one of the founders of the company. He pursued his studies from Indian Institute of Technology, Kharagpur. He knows a different language which is Korean. Previously, he was a software developer in Samsung Research India.
- Rishikesh SR is also one of the founders of the company. He pursued his education from PES University. He achieved 'best project of the year award'. He was the founder of IMPStant and theKarrier.
- Aravind Sanka is the co-founder of the company. He pursued his education from Indian Institute of Technology, Bhubaneswar. Previously he was the Finance Business Partner in Flipkart.com.
Rapido - Startup Story
The basic idea of the three founders was to hire people especially who owned two-wheelers. The founders wanted to bring up something new which was a way different from Ola and Uber as they invested heavily on vehicles. But they wanted those two-wheeler owners just to register themselves on the Rapido captain app and verify their details with the company.
They thought Ola and Uber can never be affordable to all for a daily basis. And the traffic in big cities are increasing every day. So they thought of escaping a few problems and planned for successful motorbike rides.
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Rapido - Business Model
The app allows its users to book a ride after which a rider known as captain would arrive at the user's location. The fare of each ride depends upon how many kilometres the user has to go to. The one's those who want to perform as captains, they have to register themselves through the Rapido captain app and get validated by submitting the required documents as mentioned above. Captains can use anything like scooters or motorcycles. But the condition is that the vehicles have to be a two-wheeler and can't be much older than 2010.
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Rapido - Revenue Model
The revenue model of Rapido has got two main aspects. It claimed that in the year 2019 the company had a 13X jump in its revenue.
- One is commission based. The company makes wealth by performing as a bridge between the two - captains and the ride seekers. The company charges 20% of the total fare as it's commission.
- The other one is a B2C commission. The company earns here via B2C logistics especially by helping logistics companies in delivering their commodities.
Brand advertisement is the must in all cases. It's a vital way but it helps each and every company to earn money easily.
Rapido - Tagline, Slogan And Logo
The tagline of the company is Ride Solo. Aravind Sanka says here that 60% of the working public changes three modes of vehicles while commuting on a daily basis. The founders wanted something reliable, convenient and affordable for the common people to travel short distances so they came out with the tagline written above.
Colours included in the logo are white, yellow and black. It was designed by shoby cc on Dribbble.
Rapido - Funding And Investors
Rapido raised a sum of Rs. 390 crores in fresh funding led by Westbridge Capital. It was looking forward towards covering its services over one hundred cities and touch one million mark for the daily rides by the year 2020.
Rapido - Growth
The startup company is growing rapidly. The growth reflects back in its financials. The Bengaluru based company reported that a 12.5X jump in the revenue was seen in the previous year. The company earned interest income and capital gain on sale of mutual funds. Its aim is to cross the million mark a day but already 500000 captains have served 10 million customers across 90 locations.
Rapido - Competitors
The competitors of Rapido are RideAmigos, GoKid, Vollo and GrabTaxi.
- RideAmigos specialises in transportation solutions, provide trip planners, trip-tracking and gamification. Transportation is their main priority
- GoKid's slogan is 'greener way to go'. It's the App for Kids CarPooling. It drastically reduces traffic and emissions to organise kid's carpools.
- Vollo is a startup company for bus searches, fast and easy travel and for booking. Especially it's a comparison tool for timetables and routes of various buses. Its mission is to serve the best to its users and make planning easier.
Rapido - Future Plans
Their goal is to insert more and new characteristics to the app thus making it powerful. The founders are thinking about reducing the rates. They are also thinking about something unique so that the users of the app can travel faster. They also have got plans thinking about including a subscription-based power pass for its regular customers. The intention is to make his/her rides more affordable.
Author: Purbalee Dutta
Source : https://startuptalky.com/rapido-success-story/
Date : 2020-09-02T05:17:47.000Z