International Taxi Company (ITC) - mobile taxi-ordering platform entering CIS countries marketWe want to introduce a taxi-ordering platform to the market, which will cover needs of all passenger and driver segments – price seekers, customers with high quality standards, drivers who are not happy with trip prices they receive and all taxi industry participants who are forced to use different apps. We are creating a flexible decision where fares and features can be chosen according to the customer demand.
Commercial launch is planned for January 2019 in CIS countries, with targets to expand to other regions in 2022.
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Key features:Flexible market fare recommendation, where passenger determines the price
Low commission per ride 3-7%
Digital company without branches and call centers, saving administrative costs
Extensive options to adjust minimal car price and type, your driver rating, and other needs
Clever individual customer retention offers
Driver and passenger rating system
Easy to register and use – only a smartphone with a camera needed for drivers to take photos of their id and river license
Market OverviewGiven traditional taxi services with auto parks, car sharing, car-pooling and C2C services on renting cars, taxi aggregators account for more than 30% of market and are growing in much faster rate than the rest of the market. While up to 60% of taxi orders around the world are online orders, CIS countries have only about 30% of taxi orders performed online now. According to UBS, 84% threshold will be reached in 2023 in region, which means a lot of orders shifting online in the nearest future. It is supported by the fact of smartphone penetration on respective markets increasing drastically in time (8% growth rate YoY in CIS region vs 5% growth rate YoY globally).
Taxi services market volume, 18.2 bln USD
ITC target markets - Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, and Russia – stand for 189 mln people population. Total estimated market size as of 2017 is 18.2 bln USD with Russia’s market having a share of 70%.
Take into account the large size of the market and the growing nature of number of rides YoY and you get the perfect location for a taxi startup to launch.
Investment targets and funds allocationWe used reliable market benchmarks, and examples of other taxi aggregators growth to determine realistic targets, and use them in our go to market strategy. To reach set goals we need to raise 37.4 mln USD investments needed. Based on our token sale model, we set a hard cap that a maximum of 40.5 mln USD can be raised. Amount of raised money will determine our exact go to market strategy and a scale of commercial launch.
2018-2021 OpEx/Gathered funds Breakdown
All gathered funds will be directed to business development and commercial market activities, covering company operating expenses during extensive growth rate.
ICO detailsA total of 200mln ITC tokens is pre-issued, 180 of which will be sold in 2018. ICO will be conducted in 3 stages – closed pre-sale for large investors, as of Jan 2018 - 28.6% of tokens are already sold out; public pre-sale with 25% discount, expected to launch in March 2018; public sale which will take place in May-June of 2018. All unsold tokens during each stage will be transferred to “Reserved by company” pool.
ITC token is based on stellar platform. Its infrastructure helps to facilitate cross-transfer value assets, including payments. Thanks to a single integration in Stellar Network, all participants - people, payment networks or banks - have equal access and participation in the economy.
