Sign up to receive 5 free days of our daily summary for tech news.

Subscribe today for just $10/month for your first 3 months to access daily conference calls during the week of the Uber IPO. 

Read this article for free.

Already a subscriber? Log in here

Asia Startups Uber/Lyft

How to Win in Ride Hailing Without Any Money

Uber and its archrival Didi Chuxing lead the global ride-hailing business after burning billions of dollars to win market share. But the survival of a small Hong Kong upstart that has fended off the industry’s behemoths raises questions about their costly formula for success. Do you always need to deploy billions of dollars to recruit drivers and subsidize passengers’ fares in order to succeed?

HKTaxi, a five-year-old taxi-hailing app founded by two college buddies, has managed to hold on to the Hong Kong market against the likes of Didi and Uber despite a fairly limited initial investment. Today, the app claims 60% share in a city where the overall taxi market is worth HK$13 billion, or $1.6 billion a year. It has recruited 45,000 taxi drivers, who pick up traditional fares on the street in addition to responding to ride requests via the app. It handles about 35,000 trips a day, the company said.

What Is The Information?

Notes bb3aa5069205d702dda37fc71dc6f1c59df2310c4379304e9f1199f052af4884

Exclusive Articles

We broke it first. Receive original reporting you won't read anywhere else from the largest newsroom in tech.

Notebook b5103017ee163370a1667c9ce59ab0ef023875a17888105d26c185cadf31bb69

Daily news analysis

Every weeknight, we'll send you our reporters’ views on the day’s top tech news—distilled into one email.

Conference calls c9e664e8b96ee347d3e92b8309938f268422b9db98cfabca5c826fbb75054b23

Conference calls

Get access to our reporters and other top executives with monthly deep-dive calls into topics like startups and autonomous vehicles.

Events 499acedd16cffc41445edd76bfd302b2836c2a27419890f17130a6b10e2aa3df

Special Events

For no extra fee, get access to more than a dozen events yearly, from intimate dinners to larger gatherings with marquee speakers.

What else is included in my subscription?

Become a contributor

Share your views and find other subscribers by completing your profile. You’ll be listed in our contributor directory.

Slack community

Discuss topics and current events with our subscriber-only Slack group and share news about your company with other subscribers.

Annual Subscriber only benefits:

Org Charts

Access the only collection of tech company org charts. Our expanding database includes companies like Amazon, Snap, and Uber.

Crypto Newsletter

Our experts investigate the latest in the crypto world to keep you in-the-know about the movements of digital currencies.

Stay up to date on Silicon Valley

Sign up for Jessica Lessin’s (The Information’s CEO & Founder) free Saturday newsletter and also receive a complimentary week of our daily afternoon tech commentary email.

Already a subscriber? Log in here

Recent Articles

Venture Capital Uber/Lyft Markets

Uber’s Weak Debut Sobering Up Silicon Valley

By Amir Efrati, Jessica E. Lessin, and Nick Wingfield

Uber/Lyft Markets

Uber’s Three Paths to Becoming Profitable

By Amir Efrati

Startups Uber/Lyft Markets

Uber’s Biggest IPO Losers

By Amir Efrati

Venture Capital Startups Uber/Lyft

DoorDash Seeking Valuation of as Much as $12 Billion in Fundraising

By Amir Efrati