Thread by @jshilanjanm

An avg #Rapido rider does ~3 trips a day, earning just Rs 200! 😮😮

What’s his persona & motivation? What does @rapidobikeapp earn out of it?

Here’s all that the company’s data reveals! A thread 👇

This morning, @livemint published a great data-rich story on #Rapido by @sumantbanerji. What did it show? A lot of things. But some key numbers are all that probably matters.

🔆 No of riders: 7.5L

🔆 Total monthly rides: 3cr

🔆 Avg rider's monthly earnings: Rs 6k (Rs 200 daily)

🔆 Full time rider's (10-12hrs) monthly earnings: Rs 20k (Rs 666 daily)

Now, let’s say, a full-time rider rides for not 10 or 12, but avg 11 hrs a day.

👉 That gives us Rs 60 earned per hour

👉 That’s in line with the founder’s claim of nearly Rs 70 per hour earnings. Also, that’s about an avg of one ride’s money

That tells us, Rapido’s platform has grown big enough, to be able to provide an avg rider with a ride worth about Rs 60 per hour

So, we now know two things.

🔆 Avg rider earns Rs 200 daily
🔆 And he makes ~Rs 60 an hour

This means, an avg Rapido rider only engages on the platform for about 3 hours and 20 mins a day! 😮😮

And that’s the factor that differentiates a bike taxi rider from #Rapido, #Ola, or #Uber from a cab or auto driver.

An avg rider doesn’t do this to run his house. He has another earning stream, where he spends the most time. That’s the big difference in persona.

👉 He is just a man, looking to earn some extra bucks, to buy that toy his kid wanted but he could not afford. Or that saree that his wife had been yearning for. Or that watch that he wants to gift his father

👉 It is about those little extras in life for which a man who already has a bike, decides to drive for Rapido an hour or two before and after work

Now, what did we just do up there? We took up a bunch of big numbers, and broke them down to a human & his persona 😅

Now, let’s get back to the big numbers to understand how much Rapido, Ola & Uber make out of this.

As per the Livemint report:

👉 Ola, Uber & Rapido together do ~1.2cr rides a week

👉 That’s ~17L daily rides (Rapido alone does 10L)

👉 At Rs 60 per ride, that’s Rs 10.2cr of biz per day (Rapido does Rs 6cr)

👉 But, this is the biz for the riders, who then pay 15-25% of this to Rapido, Ola & Uber as commissions

👉 Thus, the 3 players together make Rs 1.5-2.5cr a day (Rapido: Rs 90L-1.5cr)

That’s a monthly earnings of sum of Rs 45-75cr for all 3 players 💰💰

Of this, Rapido nets a share between Rs 27-45cr!

But, do note that this is after the biggest market, Maharashtra banned bike taxis recently. It alone used to record ~1m rides a day across all players 😓😓

With that, the biz would have been way higher. But, it is what it is.

Biz News+ WA group: openinapp.co/9mioi

PS: I post one such deep-dive daily 11am. If interested, do follow!

Tags: @bhash, @Olacabs, @rapidobikeapp, @Uber, @Uber_India | #BikeTaxi #CabHailing #Mobility #Rapido