NEW YORK, Oct. 20, 2015 /PRNewswire/ -- CabbyGo (www.cabbygo.com), the developer of the world's first rideshare app that puts the power in the hands of the people by empowering both the rider and the driver, announced that it has secured a 2nd round of funding. The capital will be used to help complete the technology build out so that CabbyGo can enter more domestic and select worldwide markets.
The company received the funding from a group of private investors.
CabbyGo is the most innovative and user-friendly ride-finding app in the world. It far outperforms Uber by offering an "auction" platform, where drivers can bid on rides – driving the prices down. Unlike Uber's automatic "peak time" price increases, CabbyGo lets drivers lower their prices to attract riders.
Costs Riders Less. Drivers Earn More.
"I am not surprised by our success or the interest among investors and availability of capital," said Joshua Freedman, Founder and CEO of CabbyGo. "There are some great rideshare apps, like Uber, Lyft, Zipcar, Getaround, and Sidecar, but none of them have CabbyGo's unique features, which provides riders with better choices and less cost per ride, while simultaneously giving drivers the means to earn more money," he added.
While the thought that with CabbyGo, riders can save money, while drivers can earn more, may sound contradictory, it is not. Due to CabbyGo's unique technology and business model, both goals are accomplished, and effectively put the power of choice back in the hands of the people.
"Rideshare apps have disrupted the taxi industry, and now we are disrupting the rideshare app market with our new, innovative platform that serves all parties better," Altman said.
The company expects to begin a third and final round of funding to facilitate further expansion within the next several months.
For more information on CabbyGo, or for drivers and taxi services that want to submit an application to be listed on CabbyGo, please contact the company at: 877-234-8126, or visit: www.cabbygo.com.