Waiting time decreases on app whilst revenues grow
mytaxi, Europe's biggest taxi app, celebrates reaching new records in key areas for the business in 2018, with strong performances at both a European and UK level. The revenue grew in Europe by 75% compared to 2017, while revenues in the UK increased by 80%. Furthermore, the total number of journeys across Europe increased to more than 40 million, while in the UK, over 4 million fares were completed in 2018.
For the first time, mytaxi has over 100,000 licensed taxi drivers across Europe signed up to the app and more than ten million passengers using it. Furthermore, figures for the UK reveal there was a 25% increase in the total number of licensed drivers signed up to the app in 2018, while passenger numbers have increased by 111% using the service. However, one number decreased across markets in 2018: the waiting time for passengers, to less than 3.5 minutes across Europe. In the UK, mytaxi reduced its wait times to 3 minutes on average, and under 2 minutes in central London.
“2018 was a huge success for mytaxi”, mytaxi CEO Eckart Diepenhorst reveals. “We have seen increase in numbers and improvements across our business areas. This makes me very proud of the mytaxi team that have delivered these results. We also know that the 100,000 drivers we partner with, have a huge share in this success, too. Drivers on the app got an average rating of 4.82 out of 5 stars by their passengers - this is a tremendous achievement.
“Growing the revenue by 75%, as a company that has already been active in the market for ten years, is very unusual. Whilst we are proud of this success, it will not make us lazy but further motivate us in 2019 to accelerate the growth even further.”
Andy Batty, Chief Operating Officer (COO) at mytaxi adds: “We have seen increasing growth across all markets and locations, with the UK being a key contributor to our success. For example mytaxi airport requests across Europe grew by a huge 80% in 2018, and in the UK these grew by 180%. Heathrow and London City airports were the most popular in 2018 .
“Cross border traffic through the app also grew by nearly 200% across Europe. Our passengers increasingly enjoy using the same app with the same account in 9 European countries and now more than 100 European cities. UK users for example were most likely to use the app when travelling around Ireland, Germany and Italy. Last but not least, we were also able to grow our B2B accounts substantially, by 123% in the UK. This is an area we see more room for further growth in 2019.
“With our new app release, we introduced the option to book specific vehicle types, making it easier for people to book a taxi which suit their needs and ultimately making urban mobility more sustainable, efficient and inclusive. As a result, we saw our app store rating improve from 4.1 to 4.8 out of 5 stars last year.”