Mumbai based call taxi service Bookmycab.com has acquired Hyderabad based CabOnClick, an online taxi booking service provider in Hyderabad and parts of Telangana.
This acquisition unveils a new trend of expansion in the hot ecommerce space adapted by market leaders. This move will give bookmycab.com, which enjoys 95% market share in Mumbai’s non-A/C cab segment, a clear advantage over others to expand its call taxi services in the Cyber City.
Bookmycab.com will roll out its taxis in Hyderabad. Post acquisition, CabonClick has moved on to the state-of-the-art technology platform of Bookmycab.com and its entire fleet has been integrated with the later.
Founded in 2012, Bookmycab.com had launched its services in Kolkata in September 2014 and has witnessed a 200% growth in driver registrations within just 3 weeks of launch.
About the Hyderabad foray, Avinash Gupta, CEO of Bookmycab.com, said, “This M&A is a part of our overall strategy to roll out bookmycab across the country in 2014-15. CabOnClick.com and bookmycab.com have complimentary 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. We are confident that passengers in Hyderabad will enjoy the seamless and convenient experience offered by us in Mumbai and Kolkata”
Prateek Mahesh, Founder of cabonclick.com, 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.”
Recent developments in the online cab booking space include OlaCabs raising $210 Mn, and TaxiForSure had also raised $30 Mn round in Series C.
