6月25日，中国时间上午8点, MVL的Kay Woo代表接受了新加坡商务广播台MONEY FM 89.3进行的采访。
在本次采访Kay对于后疫情时期打车服务的商业发展方向论述了他的意见，介绍了运营TADA的商务模型和TADA一直能赢得司机们信赖的秘诀。
点击链接即可收听完整的采访内容。
👉 https://www.moneyfm893.sg/guest/kay-woo-tada/
本次采访用英语进行。请参考下面的采访概括。
[MC]
‘Tada’ means ‘let’s ride’ in Korean right?
[Kay]
Also has a meaning of ‘surprise’ in English as you know.
[MC]
‘Tada~’ something like that. What is the surprise for TADA in terms of the business model here in Singapore?
[Kay]
In general, it goes with zero commission that 100% of income gives to the drivers and that benefit connected to the service quality. The drivers are happy and the customers will genuinely be happy.
[MC]
If it’s a zero-commission model that you have, where is your income coming from?
[Kay]
So we are building the software, our ride hailing solution, and right now with TADA Fresh, we also developed our delivery solution, so these software actually can be sold to outside of Singapore, let’s say Africa, who needs to use these kind of solution and we provide them and we share the benefit more with their own income and whenever they use our solution, so they pay money to us. We have our other source of income for ourselves, so developing this whole system with the mobility data that also goes with the blockchain, so then blockchain itself has an ecosystem together, so building these in general we are actually making them bigger, altogether, so we earn income as well.
[MC]
Let's talk about the business model, zero percent commission. This is beneficial to the drivers I would assume, but what do riders get out of this?
[Kay]
So, zero commission actually means that there is a room for the provider, for little bit cheaper price for the riders, so, there is 20% commission on top of, let’s say, you pay $20 to drivers, the 20% of 20 dollars, lets say, the driver only get $16 and there’s $4 commission right? So, we have a room to adjust the price a little bit, to give another benefit to riders, so riders get a cheaper ride but with a good quality of service, but the drivers get more income than paying 20% commission.
[MC]
Let's move on with the first alteration of TADA’s ride hailing service since it was in 2014. So, it’s in Hong Kong and why choose Hong Kong?
[Kay]
We started our company back in 2012 in New York, so back in 2012, we started and failed, and we failed several times, like 3 times, and then we started our service fleet management system and reservation system service in Hong Kong between Hong Kong and Shen Zhen. And it was just genuine, interesting for us to do business internationally. So we were there, and we built the system, so we want to use that fleet management system for all over Asia, so we were travelling in Thailand, Vietnam, Singapore, and Indonesia. While we were travelling, we saw another big opportunity here in Singapore back in 2018.
[MC]
So what are the lessons you learned through all those failures?
[Kay]
So failures actually first of all, if you make a good system, you should be able to sell well. That's the lesson. So, we’ve been doing good on selling what we have been making, but the other thing is actually when we started in Hong Kong, we actually did the commission model like 10% commission when you make a reservation. What we learned, unless we have lots and lots of money or cutting-edge technology, it’s very hard to convince those partisans, so rental car companies or drivers because of this commission actually creates value for them. So what are you going to take from me? While we are running a business we learned the concept of blockchain and there’s another way we can create the revenue or income and then we are doing so and we provide more benefit to the drivers’ side and partnered rental car companies, and that help us to grow further it actually opened up new types of platform idea for us.
[MC]
So is this no commission model then, one other reason or one of the ways to earn driver loyalty?
[Kay]
Right. That’s actually called ride hailing mobility service itself. Its core fundamentals come from drivers. It’s not about selling the service to the riders to match a service quickly, but that you keep the livelihood of the driver and then you are giving the benefit 100% to them, and in return drivers give you a 100% loyalty into the poll. But at the beginning zero percent concept sounds like a scam right? In the beginning drivers actually told us that ‘you guys are like a scam.’
[MC]
It's like one of those too-good-to be- true kind of thing, the zero commission
[Kay]
So we tell them, “yeah it sounds like a scam, but we are doing it, we will honor our words even now, after three years of running, we still survived and we kept our promise to our drivers.” So it’s only getting bigger and bigger. It’s just only matter of time. The only thing that we are actually facing is a little bit slower growth, but some bigger platforms are burning like cash and growing further and further but I don’t think that’s sustainable. What we are aiming for is actually growing sustainably and also giving the 100% benefit to the drivers.
[MC]
Has now Covid-19 impacted TADA?
[Kay]
Actually in the beginning of Covid-19 pandemic, it hit, but actually we are growing better these days.
[MC]
In that sense, where do you go from here? So from what we’ve learned from Covid-19 that there was growth for TADA, what is next?
[Kay]
So for our cases we want to make an alignment with the change of the sentiment of drivers. The drivers are educated with the course for many years to participate as ride hailing drivers. Now they know what’s good for them and what they should focus on, so we want to keep this on, 100% supporting them with a zero commission. The next level that we are thinking about is actually we want to provide products to our drivers, for example electric vehicles, electric three wheelers in such different countries in Cambodia. We try for delivery and ride hailing services whatever we could do as well as what we could provide to our drivers that we will do.
6月25日，中国时间上午8点, MVL的Kay Woo代表接受了新加坡商务广播台MONEY FM 89.3进行的采访。
在本次采访Kay对于后疫情时期打车服务的商业发展方向论述了他的意见，介绍了运营TADA的商务模型和TADA一直能赢得司机们信赖的秘诀。
点击链接即可收听完整的采访内容。
👉 https://www.moneyfm893.sg/guest/kay-woo-tada/
本次采访用英语进行。请参考下面的采访概括。
[MC]
‘Tada’ means ‘let’s ride’ in Korean right?
[Kay]
Also has a meaning of ‘surprise’ in English as you know.
[MC]
‘Tada~’ something like that. What is the surprise for TADA in terms of the business model here in Singapore?
[Kay]
In general, it goes with zero commission that 100% of income gives to the drivers and that benefit connected to the service quality. The drivers are happy and the customers will genuinely be happy.
[MC]
If it’s a zero-commission model that you have, where is your income coming from?
[Kay]
So we are building the software, our ride hailing solution, and right now with TADA Fresh, we also developed our delivery solution, so these software actually can be sold to outside of Singapore, let’s say Africa, who needs to use these kind of solution and we provide them and we share the benefit more with their own income and whenever they use our solution, so they pay money to us. We have our other source of income for ourselves, so developing this whole system with the mobility data that also goes with the blockchain, so then blockchain itself has an ecosystem together, so building these in general we are actually making them bigger, altogether, so we earn income as well.
[MC]
Let's talk about the business model, zero percent commission. This is beneficial to the drivers I would assume, but what do riders get out of this?
[Kay]
So, zero commission actually means that there is a room for the provider, for little bit cheaper price for the riders, so, there is 20% commission on top of, let’s say, you pay $20 to drivers, the 20% of 20 dollars, lets say, the driver only get $16 and there’s $4 commission right? So, we have a room to adjust the price a little bit, to give another benefit to riders, so riders get a cheaper ride but with a good quality of service, but the drivers get more income than paying 20% commission.
[MC]
Let's move on with the first alteration of TADA’s ride hailing service since it was in 2014. So, it’s in Hong Kong and why choose Hong Kong?
[Kay]
We started our company back in 2012 in New York, so back in 2012, we started and failed, and we failed several times, like 3 times, and then we started our service fleet management system and reservation system service in Hong Kong between Hong Kong and Shen Zhen. And it was just genuine, interesting for us to do business internationally. So we were there, and we built the system, so we want to use that fleet management system for all over Asia, so we were travelling in Thailand, Vietnam, Singapore, and Indonesia. While we were travelling, we saw another big opportunity here in Singapore back in 2018.
[MC]
So what are the lessons you learned through all those failures?
[Kay]
So failures actually first of all, if you make a good system, you should be able to sell well. That's the lesson. So, we’ve been doing good on selling what we have been making, but the other thing is actually when we started in Hong Kong, we actually did the commission model like 10% commission when you make a reservation. What we learned, unless we have lots and lots of money or cutting-edge technology, it’s very hard to convince those partisans, so rental car companies or drivers because of this commission actually creates value for them. So what are you going to take from me? While we are running a business we learned the concept of blockchain and there’s another way we can create the revenue or income and then we are doing so and we provide more benefit to the drivers’ side and partnered rental car companies, and that help us to grow further it actually opened up new types of platform idea for us.
[MC]
So is this no commission model then, one other reason or one of the ways to earn driver loyalty?
[Kay]
Right. That’s actually called ride hailing mobility service itself. Its core fundamentals come from drivers. It’s not about selling the service to the riders to match a service quickly, but that you keep the livelihood of the driver and then you are giving the benefit 100% to them, and in return drivers give you a 100% loyalty into the poll. But at the beginning zero percent concept sounds like a scam right? In the beginning drivers actually told us that ‘you guys are like a scam.’
[MC]
It's like one of those too-good-to be- true kind of thing, the zero commission
[Kay]
So we tell them, “yeah it sounds like a scam, but we are doing it, we will honor our words even now, after three years of running, we still survived and we kept our promise to our drivers.” So it’s only getting bigger and bigger. It’s just only matter of time. The only thing that we are actually facing is a little bit slower growth, but some bigger platforms are burning like cash and growing further and further but I don’t think that’s sustainable. What we are aiming for is actually growing sustainably and also giving the 100% benefit to the drivers.
[MC]
Has now Covid-19 impacted TADA?
[Kay]
Actually in the beginning of Covid-19 pandemic, it hit, but actually we are growing better these days.
[MC]
In that sense, where do you go from here? So from what we’ve learned from Covid-19 that there was growth for TADA, what is next?
[Kay]
So for our cases we want to make an alignment with the change of the sentiment of drivers. The drivers are educated with the course for many years to participate as ride hailing drivers. Now they know what’s good for them and what they should focus on, so we want to keep this on, 100% supporting them with a zero commission. The next level that we are thinking about is actually we want to provide products to our drivers, for example electric vehicles, electric three wheelers in such different countries in Cambodia. We try for delivery and ride hailing services whatever we could do as well as what we could provide to our drivers that we will do.