Merry Christmas folks! Just a quick post to keep you apprised of the industry…
Just over a month ago, we reported that The Artist Formerly Known As UberCab had obtained significant financing. Well, fresh on the heels of this success comes Avego, the ridesharing operator who just announced an infusion over $5 million.
We came across Avego about two years ago… it’s amazing how far they’ve come. When we first discovered them, they were just a concept. Now, with funding and media support, they’re pulling WAY ahead in the ridesharing sector.
Check these videos out:
Now, CabCorner does not technically compete in the ridesharing world… yet. Several months ago, we committed to pursuing a taxi strategy… and saving competition against players like Zimride and Avego for later years, when we could expand our platform to serve those who seek to carpool, or monetize the backseats of their own private whips.
Yet Avego’s technology is nonetheless instructive; it’s use of mobile-based GPS positioning to alert both driver and passenger of the other’s location is very innovative, as is it’s over the web account payment system.
These utilities could be excellent new additions to the platform. Obviously, they are not technologies we can pursue until we find serious financial backing. But we should nonetheless be aware of them—and their application to our model—so that we can speak of the next generation of CabCorner when we speak with investors.