Ingogo (company)

Ingogo
Industry Taxi booking and logistics, Technology
Founded August 2011
Headquarters Sydney, Australia
Area served
 Adelaide, Brisbane, Melbourne, Perth, Sydney
Key people
 Hamish Petrie (Founder & CEO)
Website www.ingogo.com.au

Ingogo is an Australian company that specialises in online taxi bookings and payments.[1][2] Cab drivers process fares using a customised mobile application on Android smartphones.[3] The company presently services Adelaide, Brisbane, Melbourne, Perth and Sydney.[1][4]

Overview

The company has its own GPS-enable booking system, and allows any nearby taxi service to pick up a fare regardless of which taxi service they work for.[5] The company was the first transportation service company in Australia to provide riders with fixed fares, which included all tolls and charges, and no surge pricing or extra fees due to traffic jams.[6][7] Ingogo's system allows users to book a taxi up to two days in advance.[8]

History

In 2011, entrepreneur Hamish Petrie convinced Moshtix, a company Petrie founded in 2003 and later sold to News Digital Media in 2007, that his idea was workable.[9]

In May 2014, the company closed its internet-based tax receipt service when it was discovered that a security flaw enabled people to access information about clients, the last four digits of credit card numbers and taxi number plates.[10]

In 2015, Ingogo raised $12 million in a funding round that valued the company at $100 million. It claims to have raised more than $16 million in total from Australian investors.[11] More than $4 million came from crowdfunding alone, which was a record on the Australian equity-crowdfunding platform VentureCrowd.[12] The Australian Federal Government has also given the company a grant. Another investor was MYOB co-founder Brad Shofer.[13]

In December 2016, the company delayed its float on the Australian Securities Exchange until the latter half of 2017. It was reportedly considering preference shares or a rights issue in the short term.[11]

References

  1. 1 2 Stein, Scott; Peterson, Richard; Bakalar, Jeff; Carey, Bridget (July 6, 2017). "Now you can rate (and ditch) regular taxi drivers on Ingogo". CNET. Retrieved July 30, 2017.
  2. ↑ "Ingogo smashes Australia’s equity crowdfunding record". The Australian Financial Review. May 29, 2015.
  3. ↑ Foo, Fran (of The Australian newspaper) (15 October 2013). "Ingogo first cab off the smartphone rank". The Daily Telegraph. News Corp. Retrieved 4 December 2016.
  4. ↑ Mckenzie, Matt (October 30, 2015). "All taxi systems Ingogo as new app hits Perth". Business News. Retrieved July 31, 2017.
  5. ↑ Dunn, Matthew (March 10, 2017). "The Aussie man trying to take down Uber". News.com.au. Retrieved August 3, 2017.
  6. ↑ Johnston, Rae (May 17, 2016). "Ingogo To Offer Fixed Fares For Taxi Rides". Gizmodo Australia. Retrieved July 31, 2017.
  7. ↑ "The coolest 100 people in Australian tech". Business Insider Australia. 14 October 2016. Retrieved 4 December 2016.
  8. ↑ Stiles, Jackson (March 2, 2015). "The taxi apps you should be using". The New Daily. Retrieved September 10, 2017.
  9. ↑ Dunn, Matthew (March 10, 2017). "The Aussie man trying to take down Uber". News.com.au. Retrieved July 31, 2017.
  10. ↑ Grubb, Ben (May 6, 2014). "Taxi app Ingogo pulls online receipts after customer shows how thousands can be accessed". The Sydney Morning Herald. Retrieved July 30, 2017.
  11. 1 2 Thompson, Sarah (column editor) (2 December 2016). "Ingogo looks to tap investors". StreetTalk. The Australian Financial Review. Fairfax Media.
  12. ↑ White, Kye (29 May 2015). "Ingogo valued at $100 million after the biggest ever Australian equity crowdfunding raise". Smart Company. Private Media Pty Ltd. Retrieved 4 December 2016.
  13. ↑ Francis, Hannah (9 May 2016). "Taxi wars heat up as Ingogo introduces cancellation guarantee". The Australian. News Corp. Retrieved 4 December 2016.
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