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Smart Phone Apps Impact on Full Service Taxi Fleets and Model Regulations

Smart Phone Apps Impact on Full Service Taxi Fleets and Model Regulations. Presented to IATR, Washington, DC November 16, 2012. Agenda. Taxi Magic is a Market Leader/ Innovator Across 50 Cities—More Similarities than Differences Full Service Taxi Fleets are Important Public Utility

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Smart Phone Apps Impact on Full Service Taxi Fleets and Model Regulations

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  1. Smart Phone Apps Impact on Full Service Taxi Fleets and Model Regulations Presented to IATR, Washington, DC November 16, 2012

  2. Agenda • Taxi Magic is a Market Leader/Innovator • Across 50 Cities—More Similarities than Differences • Full Service Taxi Fleets are Important Public Utility • Transportation Apps should support fleets or in geographies where the App Company uses individual drivers, they should be a regulated fleet www.taximagic.com

  3. About RideCharge Inc. About • Reach • Offices in Alexandria VA (HQ), Boston, New York, Los Angeles, San Francisco, Chicago • High Growth • 60 Employees (up from 15 employees in 2010) • VC Funded • Concur(AMEX) + Private Investors • Traction • 200+ Fleet Customers in 75+ Cities networking 25,000 vehicles – 4 million app downloads – 10,000+ Passenger Information Monitors www.taximagic.com

  4. Taxi Magic Products Products and PIM Advanced Booking and Payment Technology Mobile app (iPhone & Android) SMS/Text booking Web booking (via fleet sites) Dispatch Notifications Passenger Information Monitor (PIM) & Driver Information Monitor (DIM) Credit card payment & entertainment (Partnership with Samsung) • Taxi Magic products are: • Customer-focused • Fleet/Regulator Friendly www.taximagic.com

  5. Apple Consistent Store Promotions First page of “New & Noteworthy” Featured in “App Starter Kit” Featured in Apple’s “Our favorites” in “Great Free App” Category

  6. App Store Credentials: High ranking #13 in “Free Travel Apps” First app in app search for “Taxi”

  7. Full Service Fleets have lead the industry • Safety, Customer Service, Support • Driver Training, Call Center/Dispatcher Training • Quality Insurance Coverage • Technology Investment • Towers, Bandwidth and Radios (Call CtrPhones/Car Radios) • Computers (Tools for Call Takers, Dispatchers) • MDT’s (Drivers get electronic orders, GPS efficiency) • Billing Systems for Driver Mgmt and Account Billing • Fleets Source Riders • Corporate Accounts Selling • Advertising: Print, Radio, TV, Networks: 800-Taxi, Taxi Magic • Obtain Exclusive Cab Stand Rights www.taximagic.com

  8. Fleets who Invested, Gained Market Share • Regulators favored Dispatching Fleets and awarded more permits • Drivers Paid More Rent for Technology and Rides • Fleets won accounts with 3rd party payers because they can dispatch and then prove the rides • Riders called larger fleets for greater chance of service • Having Rides to Dispatch = Higher Rent Revenue = Incentive to Invest in Fleet Operations www.taximagic.com

  9. Full Service Fleet= Dispatch Full Service Fleets Simple Street Hail Fleets Rent Basic Services Drivers on their own for rides Work the Airport, Transit Work Cabstands: Work Other Hotels, High Rises ~½ Weekly Rent Cost • Rent BasicServices • Dispatch Rides to Drivers • Significant Call Center Operations • Buy Exclusives at Hotels/High Rises • Fleet Marketing/Advertising • Dispatch Rides to Public • Low Income Riders • Elderly Population • Responsible Drinking Alternative • Gov’t Programs • Higher Weekly Rents www.taximagic.com

  10. Why I like a Fleet…at TLPA in Vegas… www.taximagic.com

  11. Why I like a Fleet…at TLPA in Vegas… www.taximagic.com

  12. Our View of Booking Tech Evolution • Radio Dispatch • Digital Dispatch • Automated Call Taking (IVR) – UDI • Automated Booking (Web, Text, App) – Taxi Magic ‘08 • Tracking and Payment (App) – Taxi Magic ’09 • Direct to Driver Apps – Uber, Hailo, MyTaxi, GetTaxi • Dispatch Vendor Apps – DDS, Mobile Know, MTData • Taxi Magic “Plus” – TM Integration + GPS www.taximagic.com

  13. Drivers Market View • Work Smarter (Faster, better dispatches) • Make More Money (More rides, better tips, fewer fees) • Like to Pick and Choose Rides by time of weekday • Hail vs. Radio vs. Airport • Worst part of Radio work is No Shows • Fleets need to Improve their Game www.taximagic.com

  14. The New Minimum Bar on User Experience • RideConditions—The user must know in advance of a booking what to expect in terms of availability • RidePromise—If an order is accepted via an app, the rider must have no doubt that the ride is coming. • Ride Transparency—The rider must see the car approaching their destination with near-constant GPS-based location and progressing ETA estimates. • Payment Simplicity—The rider must be able to pay with clarity and completely no hassle from the driver. • Scarcity Management—The rider must have options when driver availability gets tight. www.taximagic.com

  15. Age of Rider Focus • Because Riders will choose how they get around • Fleets that recognize shift consumer demands can win • Regulations won’t protect Mobility (Ground) from Mobility (SmartPhone) • Driver Apps WIN, when Fleets fail to embrace Smart Phone Booking, or the Fleets don’t prioritize dispatch services www.taximagic.com

  16. Migrate Drivers/Riders to “Virtual Fleets” ??? • Drivers start to “augment” their current book of business • Consumers get premium service regardless of the cabs fleet • When driver gets enough NE business, he doesn’t need the fleet • Driver can leave his full service fleet for the cheapest “Hail-Only” fleet that can lease him a car/permit. • Big loser is the full service fleet, and it’s already happening. www.taximagic.com

  17. Regulatory Answers • Technology is inevitable • Full Service Fleets are Important to the Community • Regulations should require Apps to work through Fleets or Be a Fleet www.taximagic.com

  18. Conclusions • Taxi Magic is a market leader with a Fleet Focus • We work within all existing regulations • Direct to Driver, Virtual Fleet Business models will destroy Full Service Fleets www.taximagic.com

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