Start-Up Launches New Ride-Hail Platform That Guarantees The Lowest Rate Possible For Every Ride

Ride-hail technology innovator Bid2Ride today launched the world’s first hybrid app that combines a bid-based pricing model with a rate aggregation platform, serviced by its own fleet of licensed drivers. By integrating these two features into one app, Bid2Ride guarantees customers the lowest rate for every ride by allowing customers to first enter their desired bid based on real-time rates offered by other ride-hail apps, and then view aggregated rates across the leading ride-hail apps to determine the very best deal. 

“Bid2Ride breaks down the traditional ride-hail silos by allowing riders to bid their preferred rate – and also view rates across the other local apps – and drivers to accept their preferred rides based on price and destination,” stated Jahan Hakimi, Founder and CEO of Bid2Ride. “By establishing a standard of transparency – between riders, drivers, and the leading market’s ride-hail apps – riders are guaranteed to pay the lowest rates possible while drivers receive better scheduling flexibility. It’s a win-win-win for riders, drivers, and the industry, and we look forward to launching this model to the world.”

With Bid2Ride, riders simply enter their destination and set their desired bid price, based on the current rates offered by other ride-hail apps. Nearby drivers then view both the bid and the destination and accept or decline the ride.  

If no driver accepts the initial bid, the rider is guided to the Bid2Ride “aggregator” – which lists real-time rates of other ride-hail apps and allows the rider to jump straight to the app that’s offering the lowest rate. This bid-to-aggregator flow guarantees that regardless of whether a bid is accepted, the rider still secures the lowest-possible rate.

“Based on early testing, Bid2Ride bids have an impressively high rate of acceptance,” continued Hakimi, “however, even if one’s bid isn’t accepted, the aggregator still guarantees the lowest rate possible by presenting them with real-time rates across the other apps, thus allowing for quick comparisons and easy bookings.”

According to Hakimi, the benefits of Bid2Ride extend beyond the riders to also include the drivers, who will earn 85% of each fare – compared with the 60-70% paid out by current market leaders.

“After speaking with over 200 experienced drivers, we recognized that a major pain point is the time and money wasted when they accept rides without knowing the destination,” stated Hakimi. “This often leaves them without opportunity for a return fare, creating what’s referred to in the industry as a ‘dead leg’. That’s why Bid2Ride drivers receive as much detail as possible before they accept a bid, including what they’ll earn, the destination and the expected trip time. With this information, drivers have much more control over their schedules and the amount of money they earn.”

With the common scenario of dropping a rider at an airport and then looking for a new rider, 92% of polled drivers said they would take a discounted Bid2Ride fare immediately instead of waiting in a long line of other drivers to receive a new trip to an unnamed destination through a different app. 

“The world doesn’t need another conventional ride-hailing app,” concluded Hakimi. “However, Bid2Ride is so much more than just an app; it’s a first of its kind hybrid model that’s bid-based and aggregation that guarantees the lowest rates, greater driver flexibility, and complete transparency for both sides, every step of the way. Bid2Ride represents an entirely new way for the ride-hail economy to operate, and we look forward to introducing it to DC and Northern Virginia today and soon the rest of the country.”

Click here to download Bid2Ride, and receive $15 dollars off your first ride and $5 dollars off for each app referral. Click here for hi-res photography.