The app-primarily based ride aggregator, which completed its very first year in operations on February 28, has multiplied its company as effectively as income thousand-folds more than the previous year.
From just 30 rides in the very first month to 30,000 in February 2019, Harith al Maqbali, CEO of OTaxi, has taken the business from a startup to a complete-fledged income creating business.
Buoyed by the guarantee of the venture, Oman Technology Fund (OTF), a government-owned entity for investing in upcoming technologies firms, has picked up a stake in OTaxi. “We have entered into a strategic relationship with OTF,” stated Maqbali.
The business is adding about 20 automobiles each and every week to its ever-developing fleet of 450 taxis presently. It will commence supplying credit/debit card payment facility by the finish of this month, a move that will take comfort of hiring a cab to the subsequent level.
Maqbali stated that the subsequent move is to spread to other cities. “We are working on expansion of our services to Sohar and Salalah.”
By law, OTaxi is not permitted to take consumers from Muscat airport, hotels and malls. Even with a restricted-playing field, the business has grown exponentially. “We account for 70 per cent of the market share. This is not only because our rides are most economical among the competitors, but also because we offer safety, reliability and quality.”
Price and affordability is just a single element, added Maqbali. “We are quickest in the market too. It takes about an average of less than nine minutes for our cars to be at the service of the customer (booking time to arrival time).”
Although the thought of the business was very first conceived in 2014, it took some years of trial and error just before OTaxi could launch complete-fledged operations final year. Technical and resource problems had produced the initial years of operations problematic, but with Maqbali leaving his private sector job in 2018 to be a complete-time CEO at the business brought returns sooner than later. “We are an Omani company run by an all-Omani staff. Our call centre and taxis operate 24×7 to serve customers.”
OTaxi charges 190bz per kilometre, nonetheless the minimum fare is RO1.five.
Information Source: Muscat Daily