November 25, 2014 0 Comments
In 2013, while in a brewing turf war against Uber, Lyft, SideCar and other ride-sharing companies, cab companies in the San Francisco Bay Area fought back with help of another app called Flywheel. Just like Uber, Lyft and other ride-sharing apps, Flywheel lets customers request a cab using their smartphones. The app will show where the driver is located and allows the customer to track the driver as he gets closer. Payments are made via credit card stored on the app. According to its creators, Flywheel has many advantages against its competitors: it works with legitimate taxis that are already out on the streets and available at all times; they have professional, licensed drivers and not random drivers in their personal cars; their rates are standard and there’s no surge pricing unlike Uber. While its CEO Rakesh Mathur acknowledges that Uber could be the best thing that happened to the taxi industry because it forced them to improve their services, he hopes that Flywheel will be the app that will help to truly modernise the industry.
And while Uber reels from its public relations disaster last week, Flywheel happily drove away with a $12 million Series C funding from a consortium of investors. The funding is simply a validation that Flywheel is on the right track. With the new funding, the company hopes to expand its service nationwide.
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