Do you want to book your cab at your own price? Go for RYT Cabs. RYT cabs is a Bangalore based startup by Ravitej. RYT was established in 2015. They initially conducted the survey to validate the idea and they have surveyed about 5000+ drivers and 2000+ users to understand what is actually the need of an hour.
“With RYT cabs, we have put the power of pricing back to the control of the consumer”, says Ravitej.
We got an opportunity to talk with Ravi, the founders of RYT Cabs. And I am sure; his story will inspire you. Let’s look at the journey and see how he and his team are working hard to help people to convert their dreams into reality.
Give us a brief introduction of your startup?
Ever thought of asking a cab for your price, now you can in real time … the user can propose his fixed price (within suggested RYT price range) for which he wants to travel in a cab and driver is ready to take the offer as he does not have to pay any commission to us.
RYT Cabs is the first of its kind and only tech platform that allows the user to directly interact with cab drivers around them in real-time and lets the user choose his or her own price for the cab ride that they are going to take. It is an open network for the user and driver to agree on a fair price for a cab ride, currently, we are live with our Outstation trips with 3000 drivers on-boarded and all set to introduce city trips soon. we will make the magic to work where everyone wins.
What made you start your startup and what problem does it solve?
Today, cabs are an absolute necessity and can safely be assumed to be a utility service rather than an on-demand play. With rising demand, cab prices have shot through the roof. Surge pricing has brought cab prices to a point where affordability has become a question mark. With RYT cabs, we have put the power of pricing back to the control of the consumer. The obvious question arises with the aforementioned statement regarding the plight of drivers. RYT was formed with the wholesome intent of making life better for the drivers, thus we don’t have a commission run model. RYT charges drivers a flat fee for Rs 100 per day for any and all rides they want to take through the day. RYT does a few things differently, primary of which is how we reinvented the idea of booking cabs in the first place. We have multiple other modules which can be mobilized at will, but at this point, we are playing the cards close to our chest.
Tell us about yourself, your previous jobs/ventures? What were you doing before this startup?
Like most other people, I have lived and breathed an IT life, worked with a few big names for 14 years and finally quit my job in 2015 to pursue this full time.
Where is your startup based out of? Why do you think that is the best place for you?
RYT Cabs is based out of Bangalore. It is the most cosmopolitan mix and the most forgiving in terms of a market. Bangalore is in our idea the best place to start any experimental business because it is an extremely good mix of the population from all parts of the country. Additionally, the core team of RYT Cabs hails from Bangalore, which acts as a cherry on the cake.
As a startup founder, what are you paranoid about? What keeps you awake at night?
That is an interesting question. I personally feel that being paranoid about a particular situation only alleviates the problem itself rather than arriving at a plausible solution. I generally do not get paranoid about anything, except not knowing what is going wrong. With startups, a lot of things go wrong, and I believe it is okay that they do. Paranoia only disables a person from judging what went wrong and thus the learning curve takes a beating. It is better to keep calm, and move on.
On a lighter note, I work hard through the day and sleep well at night. A good night’s rest is required to keep things in order for the day that comes next.
Who is your competition and how are you better than them?
Existing competition in the market includes all large, medium and small cab aggregators, there is no specific competition. RYT Cabs does a few key things very differently, without cutting corners, which have been researched for well over two years. Better or worse is dependent on a vast majority of factors, primary of which is how the market reacts to the concept. If proven that RYT Cabs is better than everyone else, we will not have to claim that we are.
How hard is it to have a work-life balance as a startup founder and how do you manage it?
Honestly, it has been a fairly uphill battle. However, my family has been a constant source of support throughout the evolution of RYT Cabs. I would wholeheartedly thank them and give them immense credit for whatever large or little RYT Cabs have been able to achieve today.
Have you raised funding? If yes, then we would like to know the details. If no, then please tell us if you are looking to raise?
RYT Cabs has been bootstrapped from the beginning with a few friends and family pitching in whenever required. We are currently on the lookout for the seed round and talks are in progress with investors.
What are the biggest misconception people have about you? Why do they have that? What’s the reality?
I am a person who wears his heart on his sleeve. I do not believe in people having misconceptions, and if there is a difference of opinion, I would much rather have a conversation than walk away from it. After all, what is the point if I have a voice and I do not exercise my right to use it?
What gets you excited about this company?
There is quite a lot, to be honest. I believe that RYT Cabs will revolutionize this industry. RYT Cabs aims to be the Tesla of the cab industry, shaking up every one operating in this space. The overall journey to get there is as exciting as it gets, and when we finally get there, there will be a host of other things exciting to deal with.
Tell us how a day in your life looks like? Your schedule for a day right from the time you get up till you hit the bed at night.
My day starts with Rishi, my 10-year-old son waking me up. That alarm clock is my supercharger and acts as an unstoppable force for the entire day. My office and residence are a stone’s throw from each other, so the moment I get even a whisker of time through the day, I quickly head home to spend some time with my wife and son. That keeps me breathing through the course of the day, and I close it post-midnight on most occasions. I try to eat healthy and work out at least half an hour in the day to keep my head on my shoulders.
Tell us about your team and how you met each other?
We have a core team of 5 people, Two (Ravitej and Saritha) are from technology background along with Preetam who is into brand consulting, we started to validate the idea with a huge survey of 5000+ drivers and 2000+ user to understand the need and pain point.
The idea started to mould into a product soon after we realised the gap, simultaneously our other two team member in Finance and Marketing are taking care of the planning and execution.
All of us are known to each other at least for years.
We have tech team of 4 members and operational team of 6 in size.
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