YYZHAOCHE

YYzhaoche is a GPS-based application that matches a passenger who needs a cab to a nearby driver dispatched by a car rental company. It is an information technology platform that brings cars and passengers together. Rather than owning cars, its most important assets are the services provided to users. It expects to be profitable by charging an information fee for both passengers and the car rental companies. YYzhaoche was launched on February 28, 2011. It partnered with more than 40 Beiji... ng taxi companies as a part of the app's launch in Beijing and is now being used by approximately 20,000 Beijing taxis, which is 25% of Beijing's total taxi base. Daily cab fares using the app have reached 5,000 and the service successfully links drivers and customers 75% of the time. In April 2012, it received US$3.5 million from Zhen Fund and Sequoia Capital.More