After a year in operation in Toronto, the mobile taxi app took time to reflect on how its service is better than traditional taxis.
According to Hailo, the average pickup time with a Hailo taxi is now under four minutes, which represents an improvement of over 300% compared to traditional phone dispatch systems. Further, because customers have their credit card on file, the average time to complete payment at the end of a trip with Hailo is eight seconds, compared to two to four minutes for traditional taxi payment methods.
And while traditional phone based taxi brokerages see only 60% of trips complete, Hailo claims a completion rate above 92%.
“We’ve been overwhelmed by the support for Hailo shown by Toronto’s passengers and taxi drivers in our first year," says Justin Raymond, the president of Hailo Canada. "As a startup that is offering something so new, we could not have asked for a better response. We’re thrilled by the feedback we receive, with so many Torontonians telling us we have revolutionized the way they use taxis in the city."
So far, the company has facilitated "hundreds of thousands" of trips in Toronto, clocking enough kilometres to cross Canada 11 times.
“Our goal is to become Toronto’s preferred way to get and pay for licensed taxis," Raymond says. "We’re committed to expanding and enhancing our service both here in Toronto and in other major Canadian cities."
Launched in 2011, Hailo has raised more than $50 million in venture capital and annualized sales are now over $100 million. The company is successful, despite not everyone being fans of this new business model.