The founders
The founders of Rapido are Arvind Sanga, Pawan GhuntuPali and Rishikesh Sr. Today this company is running its startup in more than 100 cities, this company was started in 2015.
Arvind Sanga is an IITian. He studied at IIT Bhubaneswar. After working at Flipkart for three and a half years, he decided that he would run a startup.
The karrier ( 1St startup )
The karrier was his startup which was to transport goods from one place to another. In which you could book a mini truck from them and transport your goods from one place to another.
Funds are always needed to expand the business. Arvind Sanga pitched to 75 investors but alas not a single investor gave him even ₹1.
Arvind Sanga is from Bangalore. People who live in Bangalore or are from Bangalore. They would know that how much traffic jam is there in Bangalore, it takes people half an hour to cover even 5 kms.
Arvind was also stuck in the same traffic thinking that whether people do Ola or Uber or take out their own car, they take time. Arvind is sharing all these things with his friends Pawan and Rishikesh, then at the same time these people click on the idea of bike ride.
This is the beginning of Rapido, today Rapido is taking 500000 rides daily and in the last 2 years Rapido has grown 10 times.
The great thing is that the company which no one knew even two-three years ago, how did that company beat Ola Uber today and grow well.
So the story begins
So the story begins In 2015 Arvind is about to close his start up the karrier and he reaches home laughing in the traffic jam. And share things with your friends.
His friends say that why don't you take a bike so that you can avoid traffic, the bike comes out of nowhere like a snake. Arvind says that it is better to take a bike ride than to take a bike, Bangalore has all the high traffic areas.
Seeing this, all three started understanding consumer behavior inside Bangalore. Looking at this, he found that there are two categories of people here.
1. The Super Wealthy
People of this category have a lot of money and they are not short of anything.
2. The Super Saver
People of this category try to save some money somewhere or the other.
They saw in which category people are troubled by only two things. Either from empty pockets and or late at work.
And being late at work is only because of traffic jams. Seeing this, these people started Rapido, took a month and saw 10000 downloads. People really started liking the Rapido.
Entry of OLA and UBER
But only after 3 months a big bomb exploded on them and Ola and Uber also hit the entry in the bike ride.
Ola and Uber had so much funds that even if they gave their rides free for 1 year, they were not going to make any difference.
Had he done so, the rapido would have stopped. Rapido's funds were getting depleted day by day.
And Arvind once again started pitching to the investor. But wherever he goes, all the investors he meets ask him the same question that brother, all is well but how will you beat Ola and Uber.
By the end of 2016, the condition of the Rapido had worsened.
The rapido was about to close when only Pawan Munjal, who is the CEO of Heromotocorp, entered.
He gives them some money out of some of his personal funds to run Rapido and along with giving money, it also gives some good advice. Focus on Pasty Not on Cake.
Both Ola and Uber were doing very well inside the big cities, they had set their feet inside the big cities. But could not work in small towns there because people did not want to use Ola and Uber because it was very expensive here in these cities.
And this is where Rapido made his first strategy
1. Local Ecosystem
In Tier One and Tier Two cities, people mostly travel by bus or auto. Because this is the most convenient and affordable option for them. But here there was a problem, there is a lot of population in the population density in these cities and there is no place to even set foot in the bus and the auto drivers take their passengers by asking for money.
Seeing this Rapido decided that I have the opportunity to bring not one but two customers. He saw that people who want to travel everyday and those people who have bikes but do not have any source of extra income.
Making its system simple to simple, Rapido expanded its market within all these cities and by the time Ola Uber entered this market, Rapido had expanded quite well and by the time you opened the Uber app of Ola. By the time you book the ride, the rider of Rapido also comes to pick you up.
Seeing all this, a question must be coming in your mind that bike is not very safe, there is more chance of accident from bike every day.
Given this, second strategy of rapido.
2. Rider Monitoring System
Through this system, Rapido monitors everything of the rider as to whether the rider has complete documents or not. How is the rider's behavior with the customer? And at what speed the rider is riding the bike and if we assume that the rider is driving at a very high speed, then they automatically get an alert that you reduce your speed.
Rapido also gives incentives to the riders who ride more and more so that the rider is always available and the customer experience is always good.
But the things that Rapido was doing were doing things like Ola and Uber too, so how did Rapido grow so well.
You will find Ola and Uber in every city but Rapido is concentrated in only a few cities. Rapido's focus is not to cover more cities but to improve its customer experience in as many cities as it is in.
Rapido made its withdrawal system very simple for all its riders so that rider can withdraw their money anytime Rapido drivers can withdraw their money according to the day and they can also withdraw their money weekly, this withdrawal system allows the rider to Liked it very much. By doing this the rapido driver stayed with the rapido.
If you use Rapido and suppose there is no rider available nearby and if you press snooze button then within next 10 minutes you get rider available. With these small experiences, today Rapido is growing much better than Ola and Uber.
Rapido has started adding female riders as well and rapido bike ride has entered into auto ride and bike rental as well as delivery. He has also tiup with swiggy and zomato.
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