Startup Story of Rapido

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Startup Story of Rapido

Startup Story of Rapido – India is progressing rapidly in the field of taxi and transporting. We already have the leading Taxi services in the country like Ola that has originated in the country itself, now is the time of bike transporting services.

Rapido was started in 2015 in Bangalore by three IIT alumni. Rishikesh SR, Pawan Guntupalli, and Aravind Sanka are the owners of Rapido. Rapido is basically an online bike taxi aggregator company.

It is operating across India and is available in 75 plus cities of the country. Rapido has taken the transport services in our country to the next level. Rapido is in fact, India’s largest and the first bike taxi app which is on the verge of success. 

Startup Story of Rapido

Startup Story of Rapido
Startup Story of Rapido

Rapido has their app and anyone can book an online bike service through the Rapido app. It works just like an Ola app. You have to download the app, book a bike service post adding your pick up and drop location, and enjoy your ride.

A bike driver comes to pick you up and it is a ride for one. Rapido or Roppen Transportation Services Private Limited offers services at an extremely affordable price in the quickest time. 

This app also is economical because you don’t have to book an entire cab if you are travelling alone. So, along with saving some big bucks, you are saving petrol or diesel as well. You are being quick in the traffic too. 

Startup Story of Rapido

The total funding of this app till 2019 was $19.4M. This app has proved to be a great economical booster for the people who know to drive bikes as they can give some of their spare time to ride the bikes and earn some bucks. The app launched from the metropolitan cities and now they are in most of the cities of India.  

The founders of Rapido were full time engineers working in Bangalore who quit their jobs to start working for their business model. They started this business because they thought can services were quite expensive for daily use and motorcycles were quite popular in India.

Startup Story of Rapido

Startup Story of Rapido
Startup Story of Rapido

Hence, they thought of developing a business model that targeted transportation but without cabs and motorcycles. This is how they came up with Rapido. They started with the Karrier in 2014 but renamed the brand in 2015.

They did not buy their one bike for the startup. The business idea is to partner with the people who have motorbikes and who could give for the partnership to earn some extra money. And partner with the people who would be willing to work as bike riders. This is their business model for every city.

They did not even bother about the full time or  the part time drivers. There is no such rule of the company. Around 15k drivers log into the app every month.

By 2018, the company had raised $6 million in two rounds and was earning a $1.5 million revenue every month. The Rapido founders got their names listed in Forbes ‘30 Under 30 Asia – Consumer Technology 2019’.

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