First hybrid ride-hailing platform with bid-based pricing launched

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USA-based ride-hailing technology innovator Bid2Ride has launched the world’s first hybrid app that combines a bid-based pricing model with a rate aggregation platform, serviced by its own fleet of licensed drivers, with a three-month pilot program now started in the Washington DC/Northern Virginia area.

Promising average savings between 25-35% per ride, by integrating bid-based pricing and aggregated rates into one app, Bid2Ride guarantees customers the lowest rate for every ride by allowing customers to first enter their desired bid based on real-time rates offered by other ride-hail apps, and then view aggregated rates across the leading ride-hail apps to determine the very best deal. With Bid2Ride, riders enter their destination and set their desired bid price, based on the current rates offered by other ride-hail apps. Nearby drivers then view both the bid and the destination and accept or decline the ride. If no driver accepts the initial bid, the rider is guided to the Bid2Ride ‘aggregator’, which lists real-time rates of other ride-hail apps and allows the rider to jump straight to the app that is offering the lowest rate. This bid-to-aggregator flow guarantees that regardless of whether a bid is accepted, the rider still secures the lowest-possible rate.

“Bid2Ride breaks down the traditional ride-hail silos by allowing riders to bid their preferred rate, and also view rates across the other local apps, and drivers to accept their preferred rides based on price and destination,” stated Jahan Hakimi, founder and CEO of Bid2Ride. “By establishing a standard of transparency, between riders, drivers, and the market’s leading ride-hail apps, riders are guaranteed to pay the lowest rates possible while drivers receive better scheduling flexibility. The benefits of Bid2Ride extend beyond the riders to also include the drivers, who will earn 85% of each fare, compared with the 60-70% paid out by current market leaders.

“After speaking with over 200 experienced drivers, we recognized that a major pain point is the time and money wasted when they accept rides without knowing the destination. This often leaves them without opportunity for a return fare, creating what’s referred to in the industry as a ‘dead leg’. That’s why Bid2Ride drivers receive as much detail as possible before they accept a bid, including what they’ll earn, the destination and the expected trip time. With this information, drivers have much more control over their schedules and the amount of money they earn.”

Hakimi added, “The world doesn’t need another conventional ride-hailing app. However, Bid2Ride is so much more than just an app; it’s a first of its kind hybrid model that’s bid-based and aggregation that guarantees the lowest rates, greater driver flexibility, and complete transparency for both sides, every step of the way. Our system represents an entirely new way for the ride-hail economy to operate, and we look forward to introducing it to DC and Northern Virginia and soon to the rest of the country.”

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Adam joined the company in 1994, and has been News Editor of TTT since 2009. In his other role as Circulation Manager, he helped create the original Traffic Technology International distribution list 23 years ago, and has been working on it ever since. Outside of work, he is a keen fisherman, runs a drumming band, and plays an ancient version of cricket.

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