It was in April 2013 when the co-founder, Abhishek Talwar stumbled upon the idea of PoolMyRide while commuting to Sohna road, Gurgaon from his home at Rajouri Garden for work. The distance was 40 km and it was taking him 2 hours to reach to his office in the traffic jams.
It wasn’t long for Abhishek to understand that it wasn’t just him suffering in long traffic snarls but everyone else commuting on that stretch was probably wasting a significant amount of time due to frequent traffic congestions. Instead of becoming part of the problem, he chooses to solve this evergrowing and global problem.
Two weeks later, he, along with co-founder Rajat Talwar, who happens to be his cousin, quitted their jobs and started working on Poolmyride, a ride-sharing app, which now has connected thousands of co-passengers all over the world to carpool.
Abhishek says, “Time and Money are two most important aspects and all products become great only when they are able to save either of those, we are saving both + environment.”
Both of them have experience working together since college days and they have even formed an IT consultant firm called Delve Logic, where they created some major projects related to the web and mobile for Fabfurnish, Rockstand, Droom and Medocity.
The co-founder Rajat Talwar, an ex-Amazon Employee and Full Stack Engineer has 5 years of experience in mobile and web technologies. Some of his projects are Picatcho, Office Drop and Yasmo Live.
Coming back to PoolMyRide, they have come a long way in fine-tuning and iterating UI, UX, features and code base 51 times according to the needs of commuters globally. “With the 59th version of PoolMyRide now available on Google PlayStore, we’ve come a long way in developing the best user experience and intelligent ride sharing app,” says Abhishek.
Other than just providing share-riding services, they are also building a platform for customers, who don’t have cars by enabling them to hire cab or taxi to save money. He says, “Everybody travels everyday so whey travel alone, offer a ride or pitch in and carpool with someone already travelling on your route. In case co-passengers don’t have cars, they can book a shared cab together to save money, time and environment. At the end of the day society as a whole is benefited, as there is less carbon emission and one car less on road. We make people save time and money.”
July has been a prosperous month for PoolMyRide, as they have witnessed tremendous increase in their app downloads. Some of their milestones are:
1) #1 App on Google Play Store and App Store for search terms “carpool”, “car pool” and “cabpool”
2) Crossed 5K+ organic downloads on Android Play Store without any marketing
3) In January 2015, Team PoolMyRide got selected in Carma Axlr8r program, funded by SOS Ventures and got $25K for 7% equity
4) 85K+ screen views a month
5) Every 5 seconds someone in the world searches for a carpool on the platform
Abhishek says, “We build the most beautiful, easy to use and intelligent ridesharing application. Our product speaks for itself. We thought that we should put all our energies in developing the app and we are happy to share that PoolMyRide is #1 carpool app. We became #1 not by marketing but by building a great product.”
PoolMyRide has multiple revenue models:
- Shared Cab Booking
By connecting people looking for the ride, they provide a platform to book a shared cab or auto together, not only saving money but also reducing carbon emission as well. They are even in talks with TaxiForSure to further streamline their service.
- Contextual Marketing
They advertise coupons based on the carpool created. Location-based coupons or deals show a high possibility of getting redeemed. This is already in place and they have partnered up with VantageCircle for deals.
- Wallet Integration
PoolMyRide could be an active platform for wallet startups like mobikwik or paytm, where it acts as a medium not only for customer acquisition but for customer retention. Customers can use the wallet to pay money to co-passengers.
- Intercity Shared Cab Booking
They are planning to open a marketplace for cab vendors to monetize more out of their intercity trips by ride-sharing services, while the end user should only pay for his seat.
He says, “Also initially we thought that we would provide cab-pooling service to daily office-goers and hence we bought 2 commercial cars for a test run. However, the idea of installing more cars across Delhi-NCR is not scalable but has helped eight employees of Gurgaon, who enjoys PoolMyRide’s exclusive Noida – Gurgaon cab-pooling service.”
Speaking about the future plans, he says, “PoolMyRide has the potential to become Airbnb of transport domain. We are now in talks with major cab vendors to bring them on board so that users can book a shared cab together from PoolMyRide . Additionally, We are also looking for a global affiliate marketing partner for contextual marketing.”
Many Indian cities have inadequate public transport systems and offices are located in inaccessible suburban office parks. Therefore, there is a great opportunity lying ahead for PoolMyRide to capture this market.