THIS Is How Rapido Overtook Ola and Uber

Rapido has surpassed Ola to become the second-biggest ride-hailing platform in India, only behind Uber.

While Ola and Uber are struggling, Rapido’s success makes it look like it is playing a different game altogether. While Ola’s last funding round was way back in February 2022, Rapido just raised $120 million in July this year and became a unicorn.

Its operating revenue increased by over 300% to Rs. 443 crores last year, and it is currently doing over 20 lakh rides in India every single day.

And Rapido’s success looks even more incredible when you compare its funds with Ola - While Ola has raised around $5 billion dollars so far, Rapido has raised less than $500 million in its 9 years of existence.

But there is a fundamental difference between Rapido and its two competitors - Ola and Uber’s core offering has always been cab hailing, Rapido started its journey as a bike-taxi platform only.

Many people initially dismissed Rapido’s business model focused on bike-taxis, but now all of them have been proven wrong.

So how did Rapido manage to surpass Ola with less than 10% of funds? How did Rapido - a company that launched after Ola and Uber were already unicorns, manage to beat their duopoly and capture the market? What is Rapido’s secret business model that is now helping it beat Ola and Uber even in cabs and autos?

Find out the answers to all these questions and more in this video!




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