About the Company
Rapido is India’s first and fastest-growing bike taxi app with 25 million+ app downloads. We launched in 2015, are now running operations in more than 100 cities, and have introduced the three-wheeler (auto rickshaws) as a commuting option to our list of services.
Rapido's core business is two-wheel and three-wheel ride hailing, which will continue to grow from a current one million completed rides a day across more than 100 Indian cities to five million completed rides per day by 2025. Demand for these rides is fueled by an upwardly-mobile Indian demographic that continues to move from an agrarian base to rapidly expanding urban centers in the quest for employment and an improved quality of life.
In many parts of the world, ride-hailing is seen as a shift from vehicle ownership toward a more efficient, shared form of commute. In India by comparison, the mobility landscape is in a state of multi-directional flux. Public transport is underdeveloped and inefficient but subsidized. Cost-wise it sits above completely informal means of transport - bullock carts, cycles, walking and everything in between that accounts for 30% of all miles traveled. Adjacent to public and informal means of transport, is the use of 3w and 4w vehicles for point to point “shared” mobility. For users that “upgrade” from these choices, the decision between ridesharing, ride-hailing, self-drive and vehicle ownership is driven by a complex matrix that values convenience, societal status, perceived safety, cost and choice. We at Rapido, continue to create solutions that help us understand more about the Indian consumer and their unique needs.
On the supply side of our marketplace, there are changes taking place that are largely external to the core mobility sector, but are capable of shaping our future in ways that we are yet to explore.
Electric vehicles (EV) might be the largest revolution since Henry Ford’s assembly line but in India, adoption has been slow. Private and public stakeholders believe that future adoption will mainly be driven by 2w and 3w owners, and the B2B/fleet space will be at the forefront of this change. At Rapido, while we believe in the promise of EV, the implementation of this future and our specific role in it are as yet unsolved questions. In a marketplace such as ours, where we don’t own a fleet, the answer probably lies at the intersection of financing, education and incentivisation. We would like to know more.
Choosing to go electric is one of the many choices that a captain on our marketplace has to make. India is a country dominated by two wheelers. Our captains that choose to ride on Rapido could be students, 9 to 5 workers or stay at home mothers. We give them a choice - to better utilize and monetize their owned asset. Our captains are part of the gig working economy - a rapidly growing part of the workforce that has embraced a more flexible form of working versus the traditional 9 to 5. In India however, a gig worker often only has the illusion of choice. As compared to gig workers across the globe, gig workers in India are much more likely to be the primary wage earner - with their current gig being their only means of livelihood. Problems faced universally - such as job security, lack of a safety net and low growth prospects are exacerbated. We believe that a long-term solution to this problem will come from ecosystem enablers- that work with platforms such as ours and gig workers to provide real choice and better task completion. Of course, at scale any such enablement needs to be profitable.
- The intern can choose to work on one of the two areas: Electric vehicles / Gig worker enablement.
- They will be working as part of the team running initiatives in that particular area; their role will be a mix of strategy and implementation with a large focus on implementation and experimentation.
- Understand the broader problem area and choose a narrow problem set to concentrate on.
- Come up with solution(s) that are possible/probable to address the problem at hand; solutions can include homegrown ideas and/or collaborations with a player in the space.
- Pick a specific solution; create and implement real-world operational experiments that can be used to validate/add to the solution.