Photo - CABIDZ
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CABIDZ

Intelligent Ridesharing Marketplace.

Australia
Market: Transport, Tourism, sport, Services, Mobile applications
Stage of the project: Operating business

Date of last change: 07.01.2021
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Idea

Intelligent Ridesharing Marketplace where riders get cheapest auctioned fares instantly. Riders save money, drivers earn more! The longer the trip the more the discount. No need to run on going promotions in highly competitive market. Riders always look for promotions and drivers always looking for prime longer trips towards hot destinations where they would get connecting trips. CABIDZ provide AI platform where drivers are shown the destination unlike ubers giving them better opportunity to get the jobs what they are looking for on profitable margin so that they can pass on discount to riders

Current Status

More than 1000+ drivers and many on hold.
More than 5000 Uber Riders, all organically
Around repeated 10,000 trip requests.
~6000$ Revenue with very low budget.
Successful Market validation.
Increasing demand in riders and drivers.
Signs of disruption on low budget in high rewarding global business where Billionaire companies failed here in Sydney i.e Bolt/Taxify, Ola etc

Market

All Local/ domestic, International passengers, Riders, commuters, travelers.
Massive global and local market. 1 Million trips every day in Australia by Ridesharing and 1 Million still by Taxis which is pacing away to Ridesharing every day.

Only in NY 1/2 Million trips are done by Uber and 150,000 by Lyft which is Second to Uber and than other ridesharing companies and CABS. We target both segments Ridehsraing and Taxis.

Problem or Opportunity

Massive Ridesharing and Taxi market, Expensive Fares, Growing number of 60,000+ drivers in Sydney, High competition, Higher uber driver commission 27.5%, Growing Demand, Surge Fare Exploitation, Longer Driver Working Hours (12 hrs), Hidden destinations(uber drivers do not know where they are heading to), enforced trips(where drivers must accept the incoming job ) mostly end up in shorter trips impacting on drivers earnings, Oversupply of Drivers, Post-COVID consumer demand for more ongoing discounts have created an opportunity for disruptive Innovation to Capture the Ridesharing and Taxi Market.

Solution (product or service)

Innovative AI Ridesharing Marketplace where riders get cheapest auctioned fares within 1-2 seconds.

CABIDZ is NOT a simple Ridesharing Marketplace where drivers place uncontrolled bids instead its highly intelligent where system places auto or augmented intelligent bids based on driver’s eta to rider, his car
and drivers preferences and also makes sure 24/7 as a B2C to beat all market prices to give riders discount and drivers more money!

In Ubers a rider requests for a ride and a nearby driver gets it, so in high competition drivers have to try their luck in the hunt for the money making jobs. Whereas In CABIDZ a rider requests for a job and 3 nearby drivers given a chance to see the job destination and amount, this auction factor gives best competitive rates to the rider, an opportunity for driver to work smartly and go towards hot destinations as for drivers time matters most.
This also gives rider more options to choose cars based on their eta as seen in Sydney market that riders pay taxi/uber fare for closer rides so the auction factor is variable in terms of price, eta and service. When riders are in a rush they happily pay more to closer driver.
By showing drivers destination in advance also addresses a big issue of cancellations of shorter trips in ubers. i.e upon knowing of destinations drivers cancel lots of trips.

Our aim is to create the Ridesharing Marketplace with a B2C model in the beginning and truly make it a Marketplace in a short time with a little B2C assistance, The service and Marketplace together will change
the trends as riders will continuously get cheapest auctioned rides!

Competitors

Uber, Copycats Ola, Didi all operating on same model, they all go on surge when drivers are not available. The situation in Sydney is that all the drivers are same signed up in all apps, when they get the job from one app they go offline in others which causes the surge in others. If rider lets say was requesting a ride from uber and there was no driver there so uber fare surged there to 1.5x/2.0x now the same rider requested in Ola and he got the ride there. The next person requesting the ride in uber from the same town will end up paying surged fare. This is keep on happening in all the apps due to drivers switching on/off. Riders than compare and ask what benefit i do have using the copycats.

The Taxis are the other competitors with old boring radio bookings.

Advantages or differentiators

AI Ridesharing marketplace
Sustainable Business Model
Fares On Sale 24/7
Riders Save Money
Drivers Earn More
More market share in lesser budget
Go viral global power
The Longer The Trip The more The Discount
Massive Savings if traveling towards City, North, East, Inner City,
Airports.
No need to run ongoing promotions
Lesser cancellations
More drivers availability/retention
More Consumer retention

Finance

CABIDZ is less dependent on third party APIS, making it more profitable. We operate on 5-10% driver fee so that they can pass on discount to rider and could still earn more money than ubers. The 5-10% driver fee depends on driver performance i.e no of trips completed , percent of discounts passed, and many other promotional schemes in order to capture this massive market.

Money will be spent on

Sales and marketing - 80%
Operations - 10%
dev/R&D - 10%

Team or Management

Incubation/Acceleration programs accomplishment

getting Interest from world top companies i.e Microsoft

Won the competition and other awards

CABIDZ, selected as one of the top 10% of over 4,000 total applications of exhibiting startups from 133 countries for Startup Grind’s 10th Anniversary Global Conference!

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video