2014: India’s taxi rental market is worth $7 billion

Mobile app-driven service providers (Ola, Uber), which aggregate taxis instead of owning them (Meru, Mega Cabs) are forcing radio taxis to tweak their business model. According to an article in Economic Times (Oct 26 – Nov 1, 2014),

  • Taxis with aggregation startups (Ola, Uber): 30,000
  • Number of Radio cabs: 35,000
  • Total number of registered taxis in top 10 cities: 600,000
  • India’s taxi rental market worth (though most of them are not profitable): $7 billion
  • Growth rate of taxi market in India: 20% per annum
 TaxiForSureOlacabsUber IndiaMega CabsCarzonrentMeru
Lauch YearJune 2013January 2011October 201320122004April 2007
InvestorsHelion, Bessemer, Blume, AccelTiger Global, Matrix, Sequoia, Steadview Capital, SoftbankGoogle Ventures, Menlo Ventures, TPG GrowthNoneWestbridge Capital, SIDBI Ventures, BTS AdvisorsIndia Value Fund
InvestmentRs 250 croreRs 300 crore
Fleet Size (Aggregated)10,00030,000Not disclosed700
Fleet Size (Owned)3,500
Fleet Size (Owned + Aggregated)7,50010,000
Drivers10,00040,000Not disclosed5,0007,500

Ola Uber. Image source India CEO

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