Boston-Based Startup Gearing up to Take on Uber, Lyft
When it comes to ride sharing services, you probably know about the big names like Uber or Lyft, but a new Boston startup is trying to get in on the business that has disrupted the traditional taxi market, and claims to offer riders and drivers better options. The startup is called Fasten, and according to Forbes, it is making a run at Uber, which enjoys millions of passengers and over a million drivers. Fasten says that it sets itself apart by charging driver $1 per ride, as opposed to the 20 percent taken by Uber per fare. Drivers can also opt for a fixed daily or weekly fee to be taken from their till. RELATED: Uber's App Shows Nearby Rides that Don'y Actually Exist
As for passengers, Fasten offers advantages because it does not use “surge pricing” like Uber does. This is when rates go up during times of high demand for rides. Instead, it allows riders to raise the rates they are willing to pay if they find it is taking too long for them to get a pickup. According to the report, a taxi-hailing app called Flywheel does this in San Fransisco. If it is late and you need to get home, name your price!
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Fasten says that this model can make things cheaper for riders and drivers, but as Forbes points out, that requires a good number of drivers to be part of the service. But it should be pointed out that, like the taxi services before it, there doesn't have to be just one or two ride-sharing businesses, and Fasten thinks that with the number of potential riders out there, it can get in on a growing market.
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