Rapido launches Mumbai operations, eyes profitability in 18 months
Ride-hailing app Rapido on Friday announced the launch of its bike-taxi service and said it plans to onboard two lakh bike drivers in the next two years as it expands operations further. The platform currently caters to auto-rickshaw and bike ride-sharing segment.It offers bike-taxi service to customers across 100 cities, including Tier-II and Tier-III cities, while the auto-rickshaw services are available in 14 cities across 10 states.
"The pandemic gave us an opportunity (to enter the Mumbai market). It left almost eight million daily commuters of Mumbai looking for alternate modes of travel. As the city builds back from COVID-19, there is a demanding need for an accessible, affordable, and safe everyday commute option.We believe Rapido with its innovative and successful model will be able to address that need," said Aravind Sanka, Co-founder, Rapido in a release.
Rapido, which started its geographical expansion about 18 months ago, has reached break-even in all cities where it has been present for over a year, and the company eyes profitability in the coming 18 months, Sanka said.