The bike taxi service platform, Rapido moves to becoming a hyperlocal delivery platform during the covid-19 crisis. It is following the footsteps of already established platforms like Swiggy Genie and Dunzo. The company initially planned on having 10% revenue from its logistics but has increased that to 25% now. The company has already begun its operations with partnering with 20 clients in last few weeks. It has started testing the hyperlocal delivery service in Bengaluru and Kolkata. Rapido is planning to start its drop and pick up services in National Capital.
The transportation industry is facing a major hit because of restricted movement due to coronavirus. The company’s plan to venture into logistics have been accelerated owing to current situations. Rapido has partnered with renowned names like Zomato, Swiggy, Delhivery.com, Myntra, Big Basket and many others.
Aravind Sanka, co-founder of Rapido in a statement said that the company is working on a priority-based system. They are giving preference to the Captains (Rapido Drivers) who solely depend on Rapido for their bread and butter. A fifth of the total lot of 250,000 have already been inducted on deliveries. Some Captains are also managing operations at warehouses as an alternative for work. All the riders associated with Rapido also have been given Health insurance.
Sanka also told that company is in good financial state currently considering their funding of Rs 390 crore but they want to optimize every cost in the company right now. The company will review its expansion plans every month for a sustainable growth. The fear of contraction of virus will remain even after things go back to normal making people hesitant of using public transport. Rapido being the cheapest option in the cab services will definitely gain more attention than before.