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    Date submitted
  • 01-Oct-2015

Ridify

Abstract

Ridify is a 'Social' product for enabling ride-sharing across all modes of mobility/transportation, viz. digital aggregators (like Uber, Ola, Meru), private transportation (like taxis, autos) or private transportation (like personal cars, bikes).

It connects like-minded travellers commuting on a similar route so that they can have a more valuable travel experience along with shared transportation costs.

Ridify is a 5PL feeder to 4PL (UberPool), 3PL (Uber), 2PL (Meru Cabs), 1PL (private vehicle) form of transportation to give an analogy from logistics industry.

We have integrated Uber, Ola and PayTm APIs for easy cab discovery and payments, but the idea of co-riding is not limited to cabs. The platform could be leveraged for any modes of transport to find people of your interest.

Video

Original YouTube URL: Open

Introduction Video

Additional Questions

Who is your customer?

Major Target Groups & daily addressable market: 1. Travelers on Railway Stations (20 Mn), Bus Stands (25 Mn - relevant intercity travellers) & Airports (0.2 Mn): ~15 Mn (assuming 1/3 of travellers have smartphones) 2. Intra-city commuters -> College Students ; Professional : ~ 20 Mn (Taking Top 8 cities) 3. Vehicle owners wanting to offer a ride for sharing the fuel cost: NA Taking a guesstimate of 5% of Total car owners (26 Mn) : ~1.3 Mn Total Daily Addressable Market Size: ~36.3 Mn potential users Growth trends: Ride-sharing is taking roots in India and all over the world, however the phenomenon gets limited due to network effects. Potential co-travellers are often siloed on different platforms like UberPool, Ola Share, Bla Bla Car etc. and therefore can't be matched with each other for ride-sharing. Ridify first matches potential co-travellers, with preference for interest-tags aligned matching, and then enable them to leverage platforms like Uber, Oland RidifyPartner (public/private transportation) for ride-sharing. When the potential co-travellers are brought together as a single homogeneous market despite being present (or not) on disparate platforms, the scale of ride-sharing consolidates and grows multi-fold.

What problem does this idea/product solve or what market need does it serve?

Ridify enables mass scale ride-sharing in urban Indian clusters by increasing the incentive over and above the monetary incentive of saving transportation cost. It uses 'interest-tags' in the application to match like minded people for ride-sharing and therefore encouraging people to share rides who earlier didn't see much value of saving fuel/fare cost in lieu of travelling with a stranger. The idea is to view ride-sharing as time-sharing, and enhancing the value of time spent during commuting for a traveller by making it a valuable/engaging/learning experience. And, the concept of time-sharing doesn't just apply to cab travel. Think about 2 board exam students spending few hours of commute to school in Delhi Metro who can find each other through the application and make much judicial use of time by sharing their learning while in transit. Ridify is a 5PL feeder to 4PL (UberPool), 3PL (Uber), 2PL (Meru Cabs), 1PL (private vehicle) form of transportation to give an analogy from logistics industry. We have integrated Uber, Ola and PayTm for easy cab discovery and payments, but the idea of co-riding is not limited to cabs. The platform could be leveraged for any modes of transport to find people of your interest.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

2 reasons: 1. Social: Ridify approaches ride-sharing as 'time-sharing'. There should be effective science behind sharing your time with someone you don't know. This process of matching people for ride-sharing is a double edged sword in the sense that for a traveller ride-sharing is as good as the value she is deriving out of her time spent and, we at Ridify are trying to attack that part of problem by using 'interest tags' and data to effectively match people. This is to also highlight why ride-sharing is not so much of a successful phenomenon in intra-city commute vis-a-vis inter-city where the monetary incentive is higher to share rides on longer distances. And, our cities need more intra-city ride-sharing especially in infra deficient countries like India, and therefore we are trying to enhance the monetary incentive with a Social incentive. 2. Unification of platforms: Potential co-travelers are sometimes present on different ride-sharing platforms like UberPool, Lyft Line, Ola Share, Bla Bla Car etc. at any point in time. And, there are occasions when they don't find anyone on their platform they have to either forgo ride-sharing or check all platforms for other potential co-travelers. We are inverting this model by first matching people on a common platform and then providing the option of sharing rides on a platform of their choice. Think of an Online Travel Agent like Expedia which aggregates demand for rooms/tickets and matches it with aggregate supply of hotels/airlines in real time. We are trying to aggregate available supply and demand of ride-sharing on Ridify's platform to provide it scale. 3. API leverage: In extension to above point, we are integrating APIs of relevant players in the complete value chain on Ridify's platform.