Mumbai-based taxi rental service Bookmycab.com has acquired Hyderabad-based online taxi booking service provider CabonClick to enter the city, reports Inc42. Following the acquisition, CabonClick has been integrated into Bookmycab.com, with the former’s website now redirecting to the latter along with its entire fleet and listings.
According to Bookmycab, its expansion to Hyderabad is a part of its strategy to roll out its service throughout the country in 2014-15. It claims it chose Hyderabad as its first market in south India after it received encouraging response during the testing phase. Along with Mumbai, and now Hyderabad, the company provides its services in Kolkata, Delhi and NCR, Bangalore and Chennai.
Bookmycab currently has a sizable market share in Mumbai’s non-A/C cab segment and claims to have witnessed a 200% growth in driver registrations within 3 weeks of launching in Kolkata, in September 2014. Founded in 2012, the company also offers ‘assured’ airport transfers, which allows users to book for a cab the night before, railway transfers which claims to always reach customers on time for the train and special corporate packages. The platform also has an Android app, to enable booking on the go.
Other developments in the taxi rental space
– Directory services company Justdial had announced plans of developing a cab-hailing app, that will allow users to book any type of cabs, including traditional cabs, cool cabs, private cabs and branded cabs, just last week. Using the app, users will be able to check which cabs are available near their location and check the rates for each type of cab, before booking it.
– Online cab service Uber has partnered with lending firms like Sriram Finance, AU Financiers and Toyota Financial Services to launch its Vehicle Financing Program in India. Under the program, drivers will be able to avail financing schemes with down payment as low as Rs 60,000 to buy a new car to work for Uber.
– Last month, online cab booking service Olacabs had received a $210 million investment from SoftBank Corp at valuation of nearly $1 billion. This investment came just three months after it raised Rs 250 crore from investors like Steadview Capital and Sequoia Capital and participation from existing investors Tiger Global and Matrix Partners, in July.