Olacabs, an online car rentals and cab services venture from ANI Technologies, has tied up with Makemytrip.com, the online travel agent, to offer car rentals for local and outstation travel in Mumbai, Bangalore & Delhi-NCR. Apart from car rentals, Olacabs will also offer pick and drop to the airport while booking on MakeMyTrip and offer a 10% discount on the taxi fare (not a promotional activity). We contacted Olacabs to know more about the revenue sharing arrangement between them and MakeMyTrip, however, they refused to disclose it. On the other hand, Cleartrip also offers cabs for users booking flights through its site, but it does not charge anything extra either from cab providers and the customers for the service.
Olacabs currently operates in Bangalore, Mumbai and Delhi-NCR. With the partnership, Olacabs will provide point-to-point services within the city, hour-based rental services and bookings for outstation travel. Olacabs claims to integrate technologies like GPS, real time traffic alerts and demand analysis to create a better car rental experience for its customers.
Makemytrip currently offers car rentals for local usage, outstation travel and airport/train transport. Previously, Cleartrip, a competitor to Makemytrip, had partnered with Meru and EasyCabs to provide cab service in Mumbai, New Delhi, Bangalore and Hyderabad.
Other developments: Olacabs had recently launched its real time Android and iOS app to book or track cabs on their smartphone. Users can book a cab with just a single click, following which Olacabs sends SMS and email alerts with details like name of the cab driver along with his phone number, pickup date and time, cab details like model and number of the car and the user’s address which is automatically shared by the mobile app. Earlier this year, Olacabs had raised an undisclosed amount in a Series A funding from Tiger Global Management. In April 2011, Olacabs had raised an undisclosed amount of funding from angel investors Rehan yar Khan, Shaadi.com Group founder Anupam Mittal,among others.
Competition: Olacabs competes with other taxi services like GetMeCab, which offers mobile web sites that can be accessed through an internet enabled smartphone. GetMeCab had stated that it intends to launch Android and Windows Phone 7 apps in the future.
Other players in the market include Bangalore based TaxiForSure which has an inventory of approximately 1000 cars and apparently earns 90% of its business through local point to point services, YourCabs which has a fleet of approximately 1200 cars and 60% of its revenue through local bookings, TaxiGUIDE which has a fleet of 5000 cars and a coverage network of 75 cities and Savaari which has a fleet of 3000 cars in its inventory and a coverage network of 60 cities.