taxi application into boom in recent years, all over the world have begun to fight wars, and North America have Uber intensified between Lyft war, China has drops a taxi and fight the battle of the taxi. After a big the industry reshuffle, GrabTaxi strong rise, spent heavily to build southeast Asia the most shouted car application.
a taxi from Malaysia mobile application GrabTaxi is southeast Asia’s start-up world champions, on average every seconds to produce 3 orders, the end of the day there are millions of trips. The company announced yesterday from softbank’s $250 million in financing, valuations sources said the company has more than 1 billion dollars. But these are just the cold truth, actually GrabTaxi behind a moving story.
bing-yao Chen was born in Malaysia giants, graduated from Harvard University, is GrabTaxi co-founder, is now becoming CEO. He still clearly remember the first time trying to persuade rental vehicles using GrabTaxi application, the driver is not interested in the conversation completely, until he brought was once a taxi driver’s grandfather, instant resonant. So bing-yao Chen spent the day driving a cab, trying to find customers pain points, also in order to experience the taxi driver.
in the 2014 Asia business conference held in Jakarta, bing-yao Chen said that the establishment of the GrabTaxi quite by accident, is his good friend in harvard to stimulate him. When his friends from harvard business school to his home for winter vacation, beat a taxi, and the results were cheated. Friend was very angry and complained to him why not point this line do and stimulate the thinking of bing-yao Chen on this matter.
bing-yao Chen grandfather is the son of a taxi driver, in a long time ago the self-made created the car empire, Chen sing cars, the company is currently the nissan motor manufacturers and distributors in Malaysia. Bing-yao Chen said his grandfather would only speak hokkien, no friends, no family support, still created such a vast empire.
GrabTaxi the secret of success is to fully understand the nuances between south-east Asia region, and give feedback to this, the learned experience into the company. Bing-yao Chen said: “we understand the needs of the taxi driver’s daily income, also know that most people use cash, and respect the local culture, different business sites to understand these subtle differences, we can turn them work for us. For example, different cities have different dialects in the Philippines, if you use GrabTaxi service in a city, the personnel of the service will service for you with the local dialect.”
“ regional focus on ” is a good strategy?
GrabTaxi want to focus on south east Asia market, at least for now. Bing-yao Chen has repeatedly emphasised that he believes his company is built by southeast Asia focus southeast Asia market of southeast Asia. After the successful financing of $90 million, bing-yao Chen first thing to do is to continue to hire more talents in each area.
considering the increasingly intense competitive environment, in the extremely important strategic significance. Because people have for affordable and convenient taxi service demand, a taxi applications around the world, emerge in endlessly, everyone rushed to contracts with clients, the driver and the owner, the competition is fierce. Although the quality of the taxi, the driver’s behavior, and convenient payment will have an effect, but when other conditions are the same, becomes the price competition, especially in price-sensitive markets in Asia.
in the taxi price war, can occupy the commanding heights of deep-pocketed, because they can offer discount, help the driver to buy cars, and try new ways to grab market share. The money is the most abundant Uber, it earned $1.2 billion in the latest round of financing, and according to reports, Uber has started preparations for the new financing. But Uber battlefield is very extensive, the United States, Europe and Asia are involved, and the like GrabTaxi focus more on their own area.
it is worth mentioning that taxis in southeast Asia has no other applications can rival GrabTaxi on money, a taxi GrabTaxi logical to become southeast Asia the first big application, and it is the world’s largest competitors giant Uber. Therefore bing-yao Chen was repeatedly GrabTaxi position in southeast Asia, is have a sound commercial logic behind it.
bing-yao Chen think will expand into a lot of different places is not an option, would undermine their own strength, GrabTaxi priority now is to do is doing things better, not only to do well and do best.
work, you are my difficulties
“you are my difficulties, this is GrabTaxi everyone in the team to abide by the motto, in fact we didn’t go to now is on it. Founded at the beginning of our office without good Internet connection, also not equipped with air conditioning, those who join me not betting on my body, but they think of my idea and concept is feasible and is willing to fight together with me.” Bing-yao Chen said.
although the formation of a perfect team is the key to successful GrabTaxi factors, but bing-yao Chen admits he has errors. Hire people because of lack of people, this is very wrong. Of choose and employ persons is very important, should not be simply because of the need to hire, but should fight shoulder to shoulder can find like-minded people. GrabTaxi has now formed a team of about 500, distributed throughout southeast Asia.
delighted bing-yao Chen is the most not more and more people use GrabTaxi application, but to see the taxi driver to earn more than before. He tracking taxi driver’s income every day, and drivers for more than a day to earn money now at least 30% higher than that of the past, some even are 300%. At first, to persuade the driver it is very difficult to buy a $30 a smartphone. GrabTaxi first testers don’t even know how to open the phone, and now the same people will have to use Skype, Whatsapp, and other functions. Bing-yao Chen very proudly said: “at first, we by giving small loans to exercise their power, now they have been able to acquire the.”
another delighted bing-yao Chen thing is that most of the passengers in everyday use GrabTaxi are women. This just with GrabTaxi intention coincides with mine. Bing-yao Chen said: “we hope that women can have safe feeling, my girlfriend, mother, sister, if take a taxi, at least I know they will be safe to arrive, this is very important.”
“for a startup financing is not interesting, but completely feasible, compared to my teammates I’m pretty lack of enthusiasm, but as long as you love yourself, love others, keen to pursue what you want, these are the others can’t take away from you, and you have to overcome in the future.” Bing-yao Chen said with a smile.