Bike on its way
MoBike is a bike taxi aggregator that helps people in getting bike taxis within fraction of seconds for their mile connectivity. Basically, Delhi NCR is choked with traffic which the MoBike addresses by cutting down the customer’s travel time.
Challenges they came across
The biggest challenge faced was the retention of drivers and ensuring that they share revenues with them. To address this MoBike offered incentives on completion of certain number of rides, which ensures that riders transparently shares all their ride information.
Birth story of MoBike
Looking at the increasing traffic woes all over NCR, a solution was desperately needed. A similar problem at Thailand was solved by introducing bike taxis which was then a massive hit. Then a thought to both Deepak and Udhaav appeared on why can’t the same system be followed. They knew each other for the last few years. That is how MoBike came into existence.
The Young CEO and his team
The core team involves-
- Udhaav Jhunjhunwala (CEO)- A 17 year old entrepreneur who is also a student in Modern School, Vasant Vihar
- Deepak Garg (COO) Serial entrepreneur with more than 10 years of experience in field work.
- Amit Singh (CTO) Tech guru, 11 years experience in app development.
Growth and Profit Earned
Working on asset light model, they started with 10 bikers on April 20, 2016. Since then, they have grown fleet up to 25 bikers making 400 rides daily. On average, each rider makes around 1516 rides a day with an average ticket size of Rs. 34 per ride. Revenue earned is shared with the riders too.
Speeding like a bike to raise funds
Though MoBike is a boot-strapped one, talks are under progress with advisors looking for ways to raise funds.
Bike it quick
The pilots are stationed at all the metro stations and major markets all over Gurgaon. Since all their pilots have commercially registered bikes, people can easily identify them and hail them whenever they spot them. MoBike app is also available on the Google Play Store from which people can make a call and book.
Hey Ladies ! Here you go for Pink
Gurgaon itself can accommodate at least 500 MoBikes. Further, they are planning to launch services in Delhi and Ghaziabad with EBikes which do not require any registration thereby reducing the registration and regulatory hassles. They have launched ‘Pink’ service on 13th June with female pilots driving EBikes, which is one of the first of its kind in the country. These pilots will cater only to the female passengers. Further, with the use of EBikes they will also be playing a part in conserving the environment.