Ride hailing business history jumps back to 2009 where Uber and Flywheel (Formerly Cabulous) were the initiator of ride hailing business. Later on many other ride hailing business were launched and established. Uber has been able to keep up with market and become a leading ride hailing business in world, currently around $76 billion in August 2018. The Ride hailing business Uber is expected to file for it’s IPO in 2019 and has been indicated that the company could be valued at as much as $120 billion. While other competitor of Uber; Lyft has the valuation of $15.1 billion dollar in June 2018. Apart from these 2 giants, there are many other ride hailing business over world. Didi Chuxing in China ($56 billion, 2018), Ola in India ($6 billion, 2018), Grab in Singapore ($10 billion, 2018). Apart from these giants, there are other ride hailing system like go-jek, meru cabs, easycabs, pathao.
Analysing the needs of ride in Nepal, some of the ride sharing business has been established in Nepal. Ride sharing business like: Sarathi Cab, Eddy Cab, Kawa Rides, Onver Smart Taxi, Tootle, HODOR taxis. Apart from these, Pathao has also been recently operational in Nepal. Most of these business currently are operational in Kathmandu. According to Sarathi Cabs, there are 9600 cabs in Kathmandu and the cab service stand alone hold Nrs. 12 billion (12 arba) of transaction every year in Kathmandu alone. Apart from these, there are different other medium of transportation in Nepal which hold their own transaction stats. The population of Kathmandu is 985,000 approx in 2019. According to DoTM, currently there are over 3.08 million vehicles operational in Nepal which all could be the potential partners for Ride Hailing Business.
Ride hailing business is setting up it’s landmark in the field of transportation business. Every year new such kind of business are registered and established; and market in Nepal still has more demand of such service. Ride hailing business is the future of digital world and most of the oldschool business are adapting it for their sustainability. With proper work plan and delivery, new ride hailing business can sustain in this market fulfilling the demand of the customer. The better execution of business, proper smart branding and marketing online and offline of the business, and data handling; new ride hailing business can compete and hold the stake in market of ride hailing business in Nepal.
Author : Bijay Rai