KNM Rao: Steering Quick Ride Through the Carpooling Revolution in India

In the dynamic realm of Indian ride-sharing, KNM Rao, the founder of Quick Ride, stands as a testament to perseverance and foresight. From humble beginnings marked by initial skepticism and biases against carpooling, Rao has navigated the challenges to build Quick Ride into a thriving carpooling platform that boasts significant daily rides and notable investments from key players in the industry.

Quick Ride’s journey began in October 2015, with Rao at the helm, driven by a vision of revolutionizing how people commute. Despite a modest start of 42 rides in the first month and a slow climb to 1,000 monthly rides in the following six months, Rao remained undeterred. He recognized that carpooling demanded not just monetary investment but also unwavering perseverance.

The initial hurdle came in the form of biases and doubts prevalent in corporates and tech parks, where Rao aimed to raise awareness about carpooling. Companies hesitated due to perceived risks, particularly safety concerns, and the approval process was time-consuming. Rao vividly recalls the struggle to convince people that carpooling could be a viable and safe alternative.

The challenges for Quick Ride intensified as it entered a market dominated by ride-hailing giants Ola and Uber. At the time, both Ola and Uber were aggressively competing for market share, offering heavily subsidized rides and enticing incentives for drivers. The allure of established brands and affordable cab rides created an uphill battle for Quick Ride, which struggled to gain traction against the ride-sharing behemoths. Investors, too, were hesitant to back potential competitors to Ola and Uber. The landscape was unforgiving, leading to the closure of several carpooling services in India, both by local startups and global players. The reluctance of investors was evident in the modest funding of around $3 million for approximately 100 carpooling startups that emerged between 2015 and 2018.

Undeterred by the challenges, KNM Rao and Quick Ride embarked on a transformative journey. The turning point came with shifting perceptions about traveling with strangers and a notable course correction by Ola and Uber. Rao’s belief that consumer attitudes change over time if value is evident started to materialize. Ola and Uber, facing substantial losses, gradually reduced subsidies and lucrative incentives for drivers around 2017. The once heavily subsidized rides became more expensive, prompting a slowdown in growth. Quick Ride seized this opportunity, offering a compelling carpooling alternative that gained momentum as ride-hailing giants adjusted their strategies.

As of 2019, Quick Ride has evolved into a robust network of 4 lakh vehicles, evenly distributed between two- and four-wheelers, facilitating over 60,000 daily rides. The startup secured significant funding, raising at least ₹100 crore from prominent investors like Naspers, Sequoia Capital, and Venture Highway earlier in the year. Sequoia Capital India Advisors recognized Quick Ride’s consistent growth and market share shift from other ride-sharing apps, contributing to its decision to invest. The carpooling platform’s success story serves as a testament to Rao’s resilience and strategic maneuvering in the dynamic Indian ride-sharing landscape.

With the carpooling segment gaining momentum and Quick Ride emerging as a formidable player, Rao envisions further expansion and innovation. The evolving landscape has also attracted global players like German carpooling startup Wunder Mobility to explore opportunities in India.

As Quick Ride continues to grow and redefine commuting norms, KNM Rao’s journey stands as an inspiration for entrepreneurs navigating challenging markets. His ability to weather the storms, adapt to changing landscapes, and lead Quick Ride to success positions him as a visionary in the Indian ride-sharing revolution. Rao’s story underscores the transformative power of persistence, innovation, and a keen understanding of market dynamics.