Rapido, a technology-driven startup based in India, has developed an innovative bike-hailing and logistics platform.
The company built the product to bridge the last-mile connectivity gaps. People in villages and beyond towns and cities have limited public transport solutions; some of which are not available late in the evenings, which makes it challenging to look for an affordable option to travel within the city only, and getting shared rides is a hassle especially if you are a woman. Rapido has developed a technology-driven platform for bike hailing and logistics called the “Rapido One-Click.” The platform has an innovative app that allows users to request and track their vehicles in real time.
Rapido’s platform allows riders to hail a bike for a ride, pay with cash or cards, and get their bike delivered to their homes.
Rapido provides a platform that allows people to hail a bike from a distance and receive a notification once the vehicle arrives.
How does Rapido works?
It is an exciting and innovative way to get around the city and save money simultaneously. When you rent a bike from Rapido for one day, you can then choose to return it to any of the docking stations located throughout the city.
Its mission was to provide a cheaper, more convenient, and environmentally-friendly alternative to public transportation.
Rapido has a fleet of over 700 bikes deployed across more than 75 cities. Its technology and services allow riders to book a bike, share their location, and pay the driver with a smartphone. The company also offers a bike delivery service across all 75 cities and has had a growing impact on real estate markets and the overall economy in India.
They use a smartphone app to connect bike owners with riders, negotiating the bike’s route. They also use their fleet of bikes and trucks and have an integrated tracking system to ensure that the bikes are returned to their rightful owner.
How did this bike rental company overgrow and become successful?
The company was founded in November 2015, after which it quickly started expanding across the city. It was founded by Aravind Sanka, Pavan Guntupalli, and Rishikesh SR.
While the service is free, the bikes are not, and with each ride, you accrue a certain amount of points that can be used for free rides or as a credit on your account.
Rapido; was started by three friends who wanted to make their city more affordable for a night out. They decided to offer a monthly subscription and offer over 700 bikes to rent in 75 cities and, in the process, provide the riders with an alternative to public transport. It used the same model as the other bike-sharing startups, called dockless systems. This means that there are no docking stations or physical structures.
Rapido’s success can be attributed to its innovative business model and dedication to customer satisfaction.
The bike rental company’s business model is based on a subscription service, allowing users to pay a monthly fee for unlimited bike rentals.
What are some of the challenges it faced?
The company faced some challenges in the first few years of its operation; for example, it had to deal with its first and second financing rounds. The challenges also include the growing competition in the bike-sharing market and the increasing use of personal vehicles as a means of transportation.
One of Rapido’s biggest challenges is competition from other bike-sharing companies. It includes competition from companies such as Car2Go, LimeBike, and Mobike, offering bike-sharing services. Companies such as Uber, Lyft, and Airbnb also offer bike-sharing and act as taxi services.
It includes the growing competition in the bike-sharing market and the increasing use of personal vehicles as a means of transportation.
“We learned from our mistakes only and some that others made. We focused on core services: on how the order management works, which captain should go where, and once they accept the ride, how the ETA logic comes into play,” Aravind explains.
What do you think is the biggest lesson we can learn from this story?
The biggest lesson we can learn from this story is that there are always chances to learn lessons from others and change your plans and another thing we can learn from this startup story is the importance of innovation. Companies must constantly innovate and find new ways to grow to be successful. Rapido’s success is a testament to the power of creation.
It teaches us that if your company wants to be successful, it must find ways to stand out from the competition and provide value and services to its customers. Thanks for reading!