Cab24X7, an online cab booking platform operated by Bangalore-based Signia Corporate Services Pvt Ltd, has expanded its operations to 18 cities, reports Techcircle. At the time of writing this article, the website offered services in 17 cities including Bangalore, Bikaner, Chennai, Hyderabad, Mumbai, Pune, Delhi, Ahmedabad, Surat, Kochi, Kozhikode, Jaipur, Jodhpur, Udaipur, Jaisalmer, Thiruvanathapuram and Bhubaneshwar. Cabs24X7 is an online marketplace that offers cabs on hire for local usage, airport transfers and outstation travel. The company had launched its online operations in November. It does not operate any fleet, instead, it just aggregates cabs from various small and medium operators across the country. Cabs 24X7 claims that they are in the process of expanding into Tier II and III cities and plans to cover 50 cities by the end of this year. Currently the company says that it closes 4-5 transaction a day but expects to reach a level of at least 25 to 30 reservations per day by the end of this financial year. Monetization: Cabs24X7 charges 17 to 25 percent margin, on each online booking, depending on various factors like city, type of car, local market rates, demand etc. Customers can either pay the entire amount or just the booking amount at the time of booking, however, the company claims that it provides online invoices to the customer for the full estimated amount. Other Players Cabs24X7 competes in the crowded online cab booking space. In the last couple of months we have seen increased activity in the cab/taxi booking space, which is one…
