Rapido is taking on the Ola-Uber duopoly by being everything they are not
Description
For a whole decade, Ola and Uber dominated the cab-hailing market. But cut to 2024 and that scenario is shifting. Both these companies are drifting. And a third contender – Rapido – is making the most of it.
Both homegrown Ola and US-based Uber are dealing with a unique set of problems. The whole ride-hailing business seems to have taken a backseat for Ola, which is now knee deep in the electric vehicles business. Meanwhile, for Uber, the problem is stagnation.
And those factors combined have taken a toll on their combined marketshare. The big two’s combined dominance has come down to around 60-70 per cent from over 90 per cent three years ago.
But there’s a huge opportunity here for nine-year-old Rapido. Which the cab aggregation newbie is making the most of.
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