The acquisition gives Bookmycab access to CabonClick’s over 150 cabs. Other transaction details remain undisclosed
Mumbai’s call taxi service Bookmycab.com has acquired CabonClick.com, an online taxi booking service provider in Hyderabad and parts of Telangana for an undisclosed sum. The acquisition is part of Bookmycab’s strategy to increase footprint in the southern markets of the country after the western (Mumbai) and eastern regions (Kolkata).
On the Hyderabad foray, Avinash Gupta, CEO of Bookmycab, said, “This M&A is part of our overall strategy to roll out Bookmycab across the country in 2014-15. CabonClick.com and Bookmycab.com have complementary strengths and we are confident that consolidation is the way to grow strategically in the e-com space in India. We chose Hyderabad as the first market to enter southern India due to the fantastic response during our test phase.”
The acquisition gives Bookmycab access to CabonClick’s over 150 cabs. The company will also unveil a new app customised to Hyderabad and invest in a dedicated call centre based out of the city.
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Prateek Mahesh, Founder of CabonClick, said, “We are excited about the association with Bookmycab.com. They are leaders in this segment and their expertise and experience across metros in India will offer a brilliant experience to subscribers of Hyderabad.”
Founded in 2012, Bookmycab.com call taxi service is run by LiveMinds Solutions, an initiative of IIT Mumbai alumni. Users can hire cabs via its mobile app, website or through a 24-hour dedicated call centre. The company launched its services in Kolkata in September 2014 and claims to have witnessed a 200 per cent growth in driver registrations within three weeks of launch.
The taxi-booking app space is buzzing with players such as Uber, Ola, Taxiforsure and Savaari trying to woo passengers and drivers with attractive offers. However, the demand is rising at a fast pace and the one offering best services at an affordable price-point will be the clear leader.
Image Credits: mindscanner/ Shutterstock
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