Ingogo (company)

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

Ingogo
IndustryTaxi booking and logistics, Technology
FoundedAugust 2011
Headquarters
Sydney
,
Australia
Area served
Adelaide, Brisbane, Melbourne, Perth, Sydney
Key people
Hamish Petrie (Founder & CEO)
Websitewww.ingogo.com.au

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.[4] 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.[5][6] Ingogo's system allows users to book a taxi up to two days in advance.[7] The company has focused on gaining corporate clients such as Qantas.[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 postponed plans for a float on the Australian Securities Exchange. It was reportedly considering preference shares or a rights issue in the short term.[11]

References
  1. Reilly, Claire (5 July 2017). "Now you can rate (and ditch) regular taxi drivers on Ingogo". CNET. CBS Interactive. Retrieved 25 March 2019.
  2. 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.
  3. Mckenzie, Matt (30 October 2015). "All taxi systems Ingogo as new app hits Perth". Business News. Retrieved 31 July 2017.
  4. Dunn, Matthew (10 March 2017). "The Aussie man trying to take down Uber". News.com.au. Retrieved 3 August 2017.CS1 maint: ref=harv (link)
  5. Johnston, Rae (17 May 2016). "Ingogo To Offer Fixed Fares For Taxi Rides". Gizmodo Australia. Retrieved 31 July 2017.
  6. "The coolest 100 people in Australian tech". Business Insider Australia. 14 October 2016. Retrieved 4 December 2016.
  7. Stiles, Jackson (2 March 2015). "The taxi apps you should be using". The New Daily. Retrieved 10 September 2017.
  8. Sinclair, Hannah (1 February 2018). "Adaptability the key to Ingogo's success". SBS Small Business Secrets. Special Broadcasting Service. Retrieved 25 March 2019.
  9. Dunn, Matthew (10 March 2017). "The Aussie man trying to take down Uber". News.com.au. Retrieved 31 July 2017.
  10. Grubb, Ben (6 May 2014). "Taxi app Ingogo pulls online receipts after customer shows how thousands can be accessed". The Sydney Morning Herald. Retrieved 30 July 2017.CS1 maint: ref=harv (link)
  11. 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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