SG: More use taxi booking apps

GrabTaxi is a smart phone taxi booking app, which, as its name suggests, helps users reserve and call for cabs. Since its inception last October, more have been using the app, so much so that the usage rate has gone up by a hundredfold; an estimated 1,300 taxi bookings are made via the app today, compared to the measly 10 from last October. The firm has more to celebrate, for it has secured a third round of funding from capitalists, which has increased its total revenue for 2014 to approximately S$114 million. Observers estimate the app to outpace ComfortDelGro's current booking volume. For each booking, GrabTaxi gets a cut. The firm earns $0.30 and $0.60 respectively for every current and advance booking a cabby accepts, less than half of what their rivals are charging. Pictures used for illustration purposes only.