The following arrived in our inbox this Tuesday from Hailo, the cabby app which allows you to hail a cab using a mobile:
As of 5pm today you’ll find a free £10 credit applied to your Hailo account which expires at midnight tonight.* Make the most of your evening, stay out late or swap your normal commute with a safe, comfortable and cool cab home. Or why not try our new luxury HailoExec service? Just hit Pick Me Up Here and swipe across to select it. It’s a little post Bank Holiday gift from us to help you enjoy a hassle-free summer with Hailo.
An online service that matches buyers and sellers you say? Worth $18bn? Well, there are a lot of taxis in the world.
We have seen this one before though, so $18bn is entirely possible, if not necessarily sensible.
Consider this chart of the original dot com network effect superstar, eBay. Read more
There have been protests. There has been legal risk. There has been disruption. And there have even been questions about whether breaking all the rules is really all that innovative.
But Uber, the taxi app formed by Garrett Camp and Travis Kalanick in 2009, is heading for a funding round anyway, and it’s doing so at a proposed market value of $10bn. (Note to FT Alphaville selves — we must really get round to launching that Shut App!* idea we’ve had.)
Is that sort of valuation justified? Who knows. Read more