|By Marketwired .||
|December 13, 2012 11:00 AM EST||
SAN FRANCISCO, CA -- (Marketwire) -- 12/13/12 -- Cabulous, one of the earliest companies in the hired-ride app business, today announced it's leading the way into the second-generation of the industry, renaming the company and product Flywheel. The company has revamped its iPhone and Android apps, upgraded its driver app and enhanced its cloud-based dispatch platform.
Flywheel is focused on affordability, accountability and transparency. Fares are based on licensed metered rates with Flywheel charging riders a very low 60-cent fee for mobile payment. Flywheel partners with taxi fleets and is integrated with their existing dispatch systems and taxis. The company has over 2000 taxis in over a dozen US cities, including 1/3 of the taxis in San Francisco.
Drivers receive 100% of the metered fare, because Flywheel believes we shouldn't take hard-earned income out of the drivers' pockets. Other aspects of our Ride Experience platform ensure that drivers are as reliable as possible, consumers get the service and reliability they crave, and the entire experience works smoothly within the urban context anytime, anyplace.
"Flywheel is actively working with existing fleets and regulators to deliver passenger convenience and reliability without compromising safety, fairness and equal access. We're deploying from the outset with a platform that complies with existing laws and regulations, including meter integration, hands-free operation, fleet-verified licensing and insurance," said Steve Humphreys, CEO of Flywheel. "Our goal is to use emerging technology such as mobile payments, real-time geolocation, cloud infrastructure and seamless dispatch integration to modernize the industry and improve efficiency, peak demand services, taxi utilization and lower operational costs. All of these contribute to an improved, less crowded, less hassled, more convenient, lower cost and more ecologically balanced urban experience. This is Flywheel's mission."
Flywheel believes we all can thrive within the urban environment, improving the experience for passengers, enhancing the services and income of our cities' great taxi drivers and encouraging us all to hire a ride instead of driving ourselves -- no driving, no parking, just getting there cost-effectively and enjoying our terrific cities.
The Flywheel app is now available in the App Store and on Google Play.
Headquartered in San Francisco and founded in 2010, the company formerly known as Cabulous raised $8MM in funding earlier this year. Investors include Shasta Ventures, Rockport Capital, Sand Hill Angels and members of the Band of Angels. Flywheel can be found at www.flywheelnow.com
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