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Subscription models gaining traction in ride-hailing sector
Financial Express Mumbai
|January 06, 2025
SUBSCRIPTION-BASED MODELS are gaining popularity in the online ride-hailing sector, with major players like Ola, Uber and Rapido reconfiguring strategies to stay competitive.
Subscription models, where drivers pay a fixed fee to platforms instead of sharing a commission per ride, have gained traction, especially in the auto-rickshaw and two-wheeler segments. Rapido's adoption of this model has yielded notable results. The bike-taxi player, which turned unicorn last year, cut its losses by 45% and increased operating revenue by 46% in FY24. Its gross order value surged 76% to ₹4,257 crore, with 20% of this coming from its new four-wheeler cab services.
This story is from the January 06, 2025 edition of Financial Express Mumbai.
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