Rapido founder on IPO plans
20 Sep, 2024
Pune, MH
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Description
Rapido’s Co-founder and CEO, Aravinda Sanka, ruled out the possibility of an initial public offering (IPO) in the near future, stating that the company’s focus is on expanding further into tier 2 and tier 3 cities, as well as exploring opportunities in the quick commerce sector. In an interview with BW Businessworld, he explained, “Our goal is to continue growing and increasing market penetration, and we will consider listing at the right time. As of now, there are no immediate plans. We currently operate in 100 cities, but our target is to expand to at least 200 to 300 cities in the coming years.”
Below are highlights from the interview:
How did the three of you come together to launch Rapido, and what has the journey been like?
It’s been 10 years since we teamed up with a shared goal of building something big, something impactful, and something scalable. When we started a decade ago, we explored various ideas, and Rapido was actually a pivot from an earlier concept. We’ve now spent nine years shaping the concept of bike taxis in India.
We knew this was a novel idea with no prior existence in the country. We were also aware of the established players in the market and the challenges that lay ahead. However, what kept us motivated was the immense impact we believed this new category could create.Read More-https://voiceofleaders.com/
Below are highlights from the interview:
How did the three of you come together to launch Rapido, and what has the journey been like?
It’s been 10 years since we teamed up with a shared goal of building something big, something impactful, and something scalable. When we started a decade ago, we explored various ideas, and Rapido was actually a pivot from an earlier concept. We’ve now spent nine years shaping the concept of bike taxis in India.
We knew this was a novel idea with no prior existence in the country. We were also aware of the established players in the market and the challenges that lay ahead. However, what kept us motivated was the immense impact we believed this new category could create.Read More-https://voiceofleaders.com/