Mumbai’s call taxi service provider Bookmycab.com has acquired Hyderabad-based CabonClick.com, an online taxi booking service provider, for an undisclosed amount. The acquisition gives Bookmycab access to over 150 cabs and the company is hopeful this number will go up to 1,000 in a span of six months.
According Bookmycab chief executive officer Avinash Gupta, the company has chosen Hyderabad first to enter the southern markets as there has been a good response during the test phase.
“This M&A ( merger and acquisition) is part of our overall strategy to roll out Bookmycab across the country in 2014-15. CabonClick.com and Bookmycab.com have complementary strengths and we are confident that consolidation is the way to grow strategically in the e-com space in India,” Gupta told mediapersons here on Tuesday.
Announcing a limited period introductory offer of Rs 399 for airport pick-up and drop from any part of Hyderabad, he said that the company had unveiled a new app customised to the city and invested in a dedicated call centre to cater to the needs of customers.
Bookmycab.com is run by LiveMinds Solutions, an initiative of IIT Mumbai alumni. Founded in 2014, it is stated to be having 95 per cent market share in Mumbai today. The company also claimed it had witnessed a 200 per cent growth in driver registrations within three weeks of the launch of its services in Kolkata in September, this year.