“HKTaxi, a five-year-old taxi-hailing app founded by two college buddies, has managed to hold on to the Hong Kong market against the likes of Didi and Uber despite a fairly limited initial investment. Today, the app claims 60% share in a city where the overall taxi market is worth HK$13 billion, or $1.6 billion a year. It has recruited 45,000 taxi drivers, who pick up traditional fares on the street in addition to responding to ride requests via the app. It handles about 35,000 trips a day, the company said.”

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