London black cab app Hailo has partnered up with Citymapper, to provide a much needed free city navigation system for their minicabs.
Citymapper, is available on Android and iOS.
Hailo are now trying to compete with private car hire app Über, who are in partnership with Google Maps.
Citymapper, although only currently available for London, New York, Paris, Berlin, Washington DC, Boston, Madrid and Barcelona, is becoming a staple fixture in Apple’s travel app category.
The latest version of the app now fully integrates Hailo in the travel section, where users can store a number of addresses to their profile and then select a travel option, which includes walking, public transport, driving.
Hailo will be using the app to show customers price differential between Minicabs/Licensed Taxis and will show the availability of cars to passenger location.
Über has not had it easy. There have been huge protests from taxi drivers in most major cities against the app’s use. Traditional taxi services say the app is creating unfair competition by riding roughshod over licensing laws.
Protests even became violent, with Über cars being attacked en-route and the company’s headquarters vandalised.
Hailo’s offices have also recently been sprayed with graffiti for the same reasons, as Taxi drivers who made this app such a huge success were sold out by the very people they once put their trust in.
As the greed from investors escalates into a feeding frenzy, most financial experts believe that the inflated valuations put on these companies are synonymous with pyramid selling techniques.
Eventually the bubble will burst.
On the 18th of June 2014, Aswath Damodaran, a finance professor at NYU’s Stern School of Business, published an article on FiveThirtyEight titled:
“Uber Isn’t Worth $17 Billion.”
His post was a shortened version of a more detailed article he had written for his own blog titled:
“A Disruptive Cab Ride to Riches: The Uber Payoff.”
Using a combination of market data, maths, and financial analysis, Professor Damodaran concluded that Uber’s value is far short of the publicised $17billion and is more likely to be less than a third of this value.