Today, we're exploring the story of Rapido, a bike taxi startup that made city travel easier and cheaper. Founded in 2015 by three friends, Rapido saw how bikes could navigate traffic faster than cars, so they started their service.
They faced challenges in a market dominated by big companies like Ola and Uber. But through surveys and testing, they refined their service based on what customers needed.
Rapido grew quickly by focusing on safety with strict checks and training for their riders. They also used smart marketing strategies, like working with local celebrities and running targeted ads.
They introduced programs like referrals and the Power Pass subscription, which offered discounts on rides, to attract more users. This helped them expand fast and secure funding from investors like Pawan Munjal, CEO of Hero MotoCorp.
Rapido targeted middle-income commuters in smaller cities, where they saw a big opportunity for growth. Today, they've become a ₹6000 crore company, reshaping how people get around in cities.
Time Stamps
00:00 Introduction
00:52 Rapido Founders Journey
01:32 Market Gap
02:11 Rapido Starting Journey
02:50 Rapido Business model
03:12 How rapido captured the market
04:37 marketing with Allu Arjun
05:40 Challenges
06:27 Funding
07:38 Thank You
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