Kakao Taxi’s large pool of taxi drivers enables a fast and effective taxi allocation for users. (image: Daum Kakao)
SEOUL, Jun. 17 (Korea Bizwire) — Kakao Taxi, a taxi reservation app which was released on March 31, is reigning over the Korean call-taxi market.
According to IT industry representatives on June 14, more than 80,000 taxi drivers have downloaded the driver’s edition app, while 1,500,000 people have downloaded the app for customers.
The accumulated number of taxi reservations through the app has reached 2 million just 80 days since the launch.
When it is considered that the number of call-taxis around the nation is about 63,000, Kakao Taxi has even attracted drivers who did not previously use taxi reservation systems.
The success of Kakao Taxi is attributable to its large pool of drivers and the quick spread of information about its benefits through word of mouth among drivers and citizens.
For instance, Uber, which was released in Korea before Kakao Taxi, had a limited pool of drivers and struggled to succeed in the Korean market.
Jeong Yong-Jae, an analyst at Mirae Asset Securities, said that Kakao Taxi now stands for more than 50 percent of Seoul’s call-taxi market, and will expand its business to have further revenue models such as premium taxi, delivery and chauffeur services.
A Daum Kakao representative said that the company has been receiving business propositions from companies abroad, and that they are currently considering offers to seek an opportunity to expand Kakao Taxi globally.
By Kevin Lee (kevinlee@koreabizwire.com)
