Source: TechCrunch
Summary
Rapido has raised $200 million to expand its ride-hailing service in India. The company has driven growth by enabling ride-hailing for lower-cost and more flexible modes of transport such as motorbikes and autorickshaws. Rapido’s service is available in over 100 cities in India. The funding round was led by Swell Mobility Holdings. According to the company, the funds will be used to expand its services and improve its technology.
Our Reading
The launch follows a familiar script.
Rapido raises $200 million to expand its ride-hailing service in India, because what India really needed was another ride-hailing app. The company’s growth is driven by enabling ride-hailing for lower-cost and more flexible modes of transport, because who needs cars when you can have motorbikes and autorickshaws? The funding round was led by Swell Mobility Holdings, because money is always a good thing. Rapido’s service is available in over 100 cities in India, because 100 is a nice round number.
Rapido’s “innovation” is just a rebranding of existing services, because who needs originality when you can just copy what’s already working?
Author: Evan Null
