It was only 2 years ago that this 3rd-party app came into Singapore’s transport market from London. Just as they announced starting in Singapore they shared how they’ve gotten thousands of drivers to sign-up. Singapore is Hailo’s first Asian market, highlighting how it’s the best place being a financial hub and a well-established tourism program.
Hailo though, isn’t the first of its kind, but a 4th comer into the field. Among its kind is Easy Taxi, GrabTaxi and Uber being the 3rd. The company’s chairman Ron Zeghibe had been proud to share how their app works differently from most, as it doesn’t award bookings in a “western shootout” format giving it to the fastest/nearest cab instead of the fastest to claim the booking request.
Hailo had come in to Singapore in a joint venture with SMRT Road Holdings back in October who excitedly announced the partnership as well. However, with some recent changes Hailo has made a decision to pull-out of the Asia Market after its attempt to expand to keep up with other players like Uber and Lyft.
The Exit – Hailo Moves Out
For one, the Hailo app had been successful in partnering with smaller taxi companies, including SMRT. This would have meant a smaller reach and would be less attractive to commuters in comparison to Grab and Uber.
According to the company’s announcement, their recent merger with giant company Daimler’s My Taxi has taken the company to a different direction. My Taxi now owns 60% of the company’s shares and has decided to refocus the expansion in Europe instead of battling it out over drivers and customers in the Asian Market.
Economists and Professors have shared their own comments about cab-hailing apps in Singapore. For one, Professor Yang Nang from NUS (National University of Singapore), Business School- Strategy and Policy Department shared how having a large network of drivers is important for cab-hailing apps to provide good service. While Dr. Walter Theseria, economist from SIM University said that the approach is a viable strategy since achieving a bigger market share is a possibility with a buy-out.
One after the Other
It seems as well that Hailo is not the first to break-away from the Singapore market for cab-hailing-apps. We have just shared how recently Karhoo has closed down and just August last year it was Easy Taxi who expanded from Brazil that pulled out to put more focus in other markets including the Middle East, Africa and Latin America.
And though cab hailing-apps have a good amount of funding, they reportedly seem to be bleeding money as the competition gets rough. In trying to get more of the market share of both drivers and commuters, even Uber has incurred up to SGD1.7 Billion in the first half of this year.
What Really Matters to Commuters
No matter what app really comes up, customers only care about getting a ride when they need one. If an app is unable to get them a ride at the budget they need then that customer is bound to go elsewhere. But when you book with SGMaxi you’re always sure to get a ride and have the option to choose the package you prefer.
Booking with SGMaxi offers a better experience for your transport needs. Whether you book our maxi cab, mini bus, bus charter or limousine service, the quality of service you receive will always be consistent and our drivers are always professional and ready to assist you during your trip.
SGMaxi offers a good variety of options for your transport needs at affordable prices, be it regular commute to the office via carpool, a tour of the city, a day out with friend or special events, SGMaxi is the best ride you can book for yourself and companions.