Rapido cofounder: Subscription model has halved customer acquisition cost

Ride-hailing company aims to become profitable in a year, says cofounder

Rapido’s customers have doubled after launching a subscription model 18 months ago, and the cost of acquiring them has halved, said a senior executive of the ride-hailing company.

 

The startup aims to be profitable in a year and go public if it makes business sense. “Though the number of customers we started acquiring has doubled on our platform, our cost of acquisition has come down by 50 per cent. This is the advantage of having a platform [subscription model],” Aravind Sanka, cofounder of Rapido, told ‘Business Standard’.

 

“We get 60 per cent of our business from customers who use more