A new cab comparison app has revealed figures for its first 90 days in business, revealing that it has more cars in London than any other cab app, as well as a weekly turnover of £750,000 and up to 7,000 bookings a day.
Since launching in London on 9 May, Kahroo has achieved weekly turnover of $1 million, growing 30-50 per cent week on week and is providing new opportunities for London cabbies suffering under the reign of Uber.
Inventory has risen to 33,000 cars in London and 90,000 across the UK, with more than 140,000 users having downloaded the app and registered.
The firm is also putting up a good fight against industry rival Uber, which reported average weekly turnover of £21,000 ($28,000) in its first complete year of operation in London, gathering 5,000 riders in its first six months in London.
Kahroo is now expanding its workforce, with an influx of drivers being rehired to cope with the extra demand.
Expected to be functioning within 100 cities by next year, the taxi firm has also recently launched in Birmingham, Manchester and Nottingham, and is set to launch in the US and Singapore in coming months.
Daniel Ishag, founder and CEO, said: “These figures show what a huge success the London launch has been. The fleets we work with are getting more business. The consumers are getting more choice from one app than they have ever had before.
“The figures we are seeing for bookings, users and revenue just 90 days from launch are hugely pleasing. This progress shows just how important it was to level the playing field and let the accredited cab fleets compete for business on the smartphone screen where the future of the business lies.
“With our scalable model, we are bringing on-demand services to four or five times the area of a city that any single network operator can cover - and that puts us in a very unique position.”
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Fellow London fleet drivers are also celebrating the success of the new app, which is giving them a chance to gain back custom.
Duncan Blackett, CEO of Swiss Cottage Cars, said:”Karhoo has been a real shot in the arm for us. We are finding that we are getting fares that we would otherwise not have access to and bookings are definitely increasing.
"We are seeing an unprecedented 20 per cent increase in revenue, and Karhoo is only a few weeks in. We have had to open our driver recruitment centre 247 just to keep up."
Nadeem Khan, who runs Cascade Cars in Wimbledon, agreed: “Before Karhoo we were seeing a lot of our jobs go to Uber, but now they are coming back to us through Karhoo. The difference is that Karhoo is helping the industry while others are trying to take it over.”
Nicholas Monteith, owner of Mornington Cars in north London, added: “Without a doubt, Karhoo is a lifesaver. It is bringing us jobs that we would otherwise not have been able to access. It allows us to properly compete.
“Before Karhoo , we had lost up to 50 per cent of our jobs to other apps on a Friday and Saturday night, but now, because of Karhoo, we are increasing the amount of fares we have. As a result, we are actively looking for more drivers.”
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