Arvind Singhal has resigned as the chief executive officer of online cab hailing service TaxiForSure citing personal reasons. Singhal was appointed CEO of the company when it was acquired by Ola in March for $200 million. Singhal had joined TaxiForSure as its chief operating officer in October 2014.
Pallav Singh, senior vice president of operations at Ola, will be taking over as CEO of TaxiForSure. Ola sent the following statement about his appointment:
“TaxiForSure continues to operate as an independent brand with a focus on the economy cab segment. We have found significant benefit in integrating some core teams like Product and Engineering across both brands in the recent past. With Arvind Singhal moving on from his role as CEO due to personal reasons, Pallav Singh, currently Sr. Vice President – New Initiatives at Ola, is appointed as the CEO of TaxiForSure.”
Prior to TaxiForSure, Singhal worked as Director of operations at McDonald’s India for the south region. He was also the director of marketing, public relations and corporate communications at McDonald’s India from March 2009 to April 2010 .
Singhal also worked as a product manager at Nokia from August 2004 to November 2005. He also had managerial stints at Asian Paints and Marico.
Top level exits from Ola
There have been a number of exits from TaxiForSure following its acquisition by Ola. Amol Patil, TaxiForSure’s head of engineering, quit the company in May as indicated by his LinkedIn profile and founded a new startup. Amitava Ghosh, chief technology officer exited the company in March this year. Chief people officer Hari T.N. left the company in March to join Big Basket as its head of human resources.
In April, TaxiForSure co-founders Raghunandan G and Aprameya Radhakrishna quit the company from their advisory roles.
Integration with Ola
In an in interview with MediaNama earlier this month, Ola’s director of marketing Anand Subramanian reiterated that the company intends to continue both brands independently and keep them separate, while drawing some synergies. In June, Ola started integrating TaxiForSure’s hatchback cars into Ola’s own booking app.The integration is visible to Delhi and Mumbai users for starters and will be rolled out to other cities in phases over the next few weeks.
In April, Ola had raised $400 million in a Series E round of funding led by DST Global, with participation from GIC, Falcon Edge Capital and existing investors. Of the $400 million, $ 100 million was earmarked for TaxiForSure.
Paytm wallet integration
In May, TaxiForSure revamped its mobile application and now allows customers to pay through their Paytm wallets. Note that in October 2014, TaxiForSure had launched its own in-app wallet to offer cashless rides. The company says that the TaxiForSure wallet will now be used for credits which customers can earn through company-led promotions. Customers will no longer be able to load money into TaxiForSure’s wallet and all existing money which was loaded into it will be stored as credits which can be used.