Be group, vietnamese ride

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Ride-hailing is an exciting space in Vietnam giới. Its major cities are home page lớn many ride-hailing firms, with driver uniforms & oto decals putting up a display of color on the đô thị streets.

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Among mỏi this sea of uniforms are drivers from ruby-forum.org Group, with their yellow- và black-striped jackets và helmets.

Founded in 2018, ruby-forum.org Group is a relatively new player in Vietnam’s ride-hailing sector, but it’s shaping up khổng lồ ruby-forum.org a worthy contender in the space.

The company has already seen over 9 million app downloads and grown its fleet to about 100,000 drivers. It achieved 16% market share in the first half of 2019, making it the second-largest ride-hailing firm in the country after Grab.

It’s also received the Fast Enterprise award at the 20đôi mươi Asia Pacific Enterprise Awards in Vietnam giới earlier this year, a marker of its success so far.

And according khổng lồ CEO Nguyen Hoang Phuong, ruby-forum.org Group is also on course lớn breakeven this year – and achieve sầu profitability in 2021, which she attributes lớn the company’s focus on building trust with its customers & not engaging in a price war with competitors.

Vietnam’s ride-hailing potential

ruby-forum.org Group is operating in what is shaping up to lớn ruby-forum.org the next hot market for ride-hailing in Southeast Asia.

Vietphái mạnh has one of the fastest-growing urban populations in the region, one that participates actively in the online economy. Ride-hailing firms have the opportunity khổng lồ address some of the transportation issues faced by Vietnam’s larger cities, such as traffic congestion và the laông chồng of public transportation options.

However, there are numerous roadblocks that ride-hailing firms need khổng lồ overcome. For one, smaller local companies are up against the cash-burning tactics of regional giants Grab and Gojek, which have sầu the resources to lớn spover in order khổng lồ increase market nội dung và achieve br& recognition.

Additionally, local players may have trouble getting Vietnamese users on board with their platforms.

“Vietnamese consumers tkết thúc lớn favor foreign goods và services,” says Nguyen. She adds that people are often hesitant lớn try services provided by local players due to a perception that local products are of inferior chất lượng.


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Nguyen Hoang Phuong, CEO of ruby-forum.org Group / Photo lớn credit: ruby-forum.org Group


Local firms also often have smaller fleet sizes compared to lớn those of regional giants, which creates problems during peak hour surges when the demand outstrips the supply of drivers.

Plus, the Vietnamese government firmed up its regulations around ride-hailing services only earlier this year, bolstered by the resistance from local taxi operators. This means that companies are still in the process of navigating the new guidelines.

And these challenges have only ruby-forum.orgen compounded by the Covid-19 pandemic, which has kept people at home page và reduced the numruby-forum.orgr of commuters drastically.

All of these make the Vietnamese ride-hailing market a challenging space, which is why ruby-forum.org Group is choosing khổng lồ adopt a different approach toward developing its platkhung.

Partnerships are key

One of the key ways ruby-forum.org Group differentiates itself is by positioning the company as an “open platsize.” According lớn Nguyen, it is veering away from the super-phầm mềm strategy adopted by many other ride-hailing firms.

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The company wants to lớn ruby-forum.org a mobility-as-a-service (MaaS) provider và is relying on building partnerships with other companies in order lớn grow its ecosystem in a sustainable manner. MaaS enables users to plan, book, & pay for multiple types of mobility services from a single platsize – in this case, ruby-forum.org Group’s ứng dụng.

“As an open platkhung, we have ruby-forum.orgen and will continue to lớn shake hands with other strategic partners to lớn deliver their products khổng lồ our customers,” says Nguyen. “Together with partners, we want to lớn serve and give more value to lớn customers as much as possible.”

The company operates ruby-forum.orgBike và ruby-forum.orgCar, its motorcycle- & car-hailing services, as well as its ruby-forum.orgDelivery service for parcels.


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Phokhổng lồ credit: ruby-forum.org Group


Users can also book xe taxi rides via ruby-forum.orgTaxi, which was developed in partnership with Vinataxi, the Vietnamese arm of Singaporean transport firm ComfortDelGro. ruby-forum.org Group also has a partnership with EMDDI, a ride-hailing management platkhung for taxi companies, which allows users lớn book taxi rides from operators in the Vietnam giới Taxi Alliance.

In addition, it has partnered with Vietnam-based digital payments phầm mềm Momo to lớn process cashless transactions on its platkhung and with local online bus booking service Vexere to give users the ability khổng lồ manage inter-đô thị travel.

By working with different partners, ruby-forum.org Group is able khổng lồ launch new services for its customers quickly without needing lớn dig too deep inkhổng lồ its pockets – something that has helped with its bottom line. Notably, the company has so far avoided making forays inlớn food delivery, which is an especially competitive sector in Vietphái mạnh.

Building loyalty

According lớn Nguyen, something else that sets ruby-forum.org Group apart from other ride-hailing firms is its focus on community and how it builds a small but loyal base of drivers and customers.

“ruby-forum.org Group balances ruby-forum.orgnefits ruby-forum.orgtween them,” she explains.

The company has developed a svào support system for its drivers, ensuring that they receive sầu a competitive income as well as the ruby-forum.orgnefits of various training initiatives. ruby-forum.org Group is also rolling out a health insurance scheme for them, on top of the financial tư vấn it has ruby-forum.orgen providing since Covid-19 first hit Vietphái nam.

The result of these efforts is an established fleet of professional drivers who deliver great service & ensure that customers are able lớn get a ride whenever they need one.

ruby-forum.org Group’s training process for drivers has also earned the company a reputation as one of the safest ride-hailing firms in the country, says Nguyen. This appeals khổng lồ its main target audience: Younger, well-educated millennials who are willing lớn pay a little more for safety và comfort.

This has helped the company “flip the prejudice” that Vietnamese consumers have sầu toward local goods và services, thanks to lớn ruby-forum.org Group’s focus on delivering ruby-forum.orgtter experiences for both drivers và customers.

Riding ahead

While Covid-19 continues khổng lồ weigh on the minds of businesses all around Southeast Asia, Nguyen is confident that the company will weather the crisis and come out ahead, as ruby-forum.org Group is no longer burning cash & has even found a nibít for itself in Vietphái nam.

ruby-forum.org Group was able to lớn pivot quickly at the ruby-forum.orgginning of the pandemic, rolling out its on-demvà grocery delivery service ruby-forum.orgShopping, which is still seeing a 200% lớn 300% growth every month, according to lớn the CEO. The company also has plans to roll out a financial services platsize in the near future.

Nguyen says that the startup has now captured ruby-forum.orgtween 20% và 30% of the Vietnamese ride-hailing market, and is confident that it is walking the path to lớn profitability.

Ultimately, ruby-forum.org Group wants to ruby-forum.org more than just a ride-hailing service.

“We’ll ruby-forum.org a mobility platform that incorporates all transportation modes into our phầm mềm lớn provide an all-in-one full solution for customers” she says. “We’ll ruby-forum.org a true MaaS provider in Vietnam giới.”