Last Updated on May 30, 2022
Jayride (ASX:JAY), the global online marketplace for airport transfers, today announced that transport company earnings through the platform are accelerating and have now passed $20 million.
Managing Director Rod Bishop said the rapid increase is a reflection of Jayride’s global expansion with more than 65 per cent of passenger trips now generated outside Australia.
“Local transport companies can now access travellers from around the world,” Mr Bishop said. In the year to June 30, the number of transport companies using Jayride to market their services increased 58 per cent to 3332 companies across 1511 airports in 81 countries.
Earnings Acceleration
Mr Bishop said transport company earnings are increasing month on month. He said it took Jayride just 14 months to get from $10m to $20m in transport company earnings compared with 6.5 years to reach the first $10m.
“This is extremely pleasing because transport company earnings are a key internal metric for our business and history shows that the more they earn on our platform, the more they engage and contribute to the Jayride ecosystem,” Mr Bishop said.
“It clearly demonstrates that transport companies who list their services on Jayride generate meaningful extra income for their businesses.”
Success Stories
Kris Able from Able 2 Tour in Sydney said he has tripled business over the past seven years using Jayride as the primary marketing and business generation tool.
“That kind of growth would not have been possible without Jayride,” he said.
Mr Able said before listing with Jayride he was spending “close to $5000 a month on Google for very little return. Now I don’t have to advertise because 80 percent of my business is coming through Jayride.”
Able 2 Tour now operates up to 20 vehicles depending on demand and, apart from airport and hotel transfers, is picking up a lot of business through Jayride’s booking service for Insurance and Medical Assist travellers, launched last year.
Meanwhile, in Indonesia, Inda Dwi Putra, owner of Bali Fast Track, said Jayride is now generating 50 per cent of his daily airport bookings. “Jayride has been very, very good for our business,” says Mr Putra, who employs 28 drivers.
Faster Payments
One of Jayride’s top priorities is to make sure transport companies receive their payments quickly, efficiently and in their own currency
In July Jayride announced the successful integration with Hyperwallet, a PayPal service, embedding its payout functionality directly onto its tech platform, delivering a streamlined and seamless payment service for transport companies.
“Our technology integration with Hyperwallet has been an outstanding success, meeting all key payment objectives,” Mr Bishop said.
Future Growth
Jayride’s successful global expansion has opened up a world of opportunity through both its consumer website and travel industry distribution channels with partners such as Flight Centre, Expedia, Skyscanner and Rome2Rio increasingly using the platform.
“More supply creates more demand. We are seeing a step change in interest from the travel industry now that they can book the whole global airport transfers industry through a single partnership. There are a number of important integrations in the pipeline,” Mr Bishop said.
As a result, Mr Bishop said Jayride growth is on track for the business to reach 1 million passenger trips booked in FY21.
“We are delivering strong sales growth for the transport companies that use our platform, and are determined to ensure this continues,” Mr Bishop said. “If our transport companies are successful, then so are we.”
