In a country overrun with ride-hailing services, TADA stacks up against raging competition through two attributes. One, it uses blockchain technology to store ride information, payments, and other relevant data in a transparent and tamper-proof manner. The risk of centralised data breaches is eliminated thanks to encryption.
Two, it operates a zero-commission model, so it does not take a cut from rides. Instead, it charges drivers and passengers a small platform fee, which is a massive draw. “This contrasts against traditional platforms that often charge high commission fees, limiting drivers’ income potential,” explains CEO Sean Kim, also Group COO of Mvl Labs, the company behind TADA. His goal is to demonstrate that profitability and social responsibility can co-exist and thrive together in the dynamic landscape of business.
In addition to democratising ride-hailing through a more equitable ecosystem, TADA invests in the professional development of its drivers. The company currently works with the National Private Hire Vehicles Association and the National Delivery Champions Association to offer drivers selected courses on customer service, safe driving, and personal branding.
It also invests in its drivers’ families. The TADA Gear Up Education Support Programme, aimed at providing educational support to the children of its drivers, was launched as part of the company’s commitment to fair value distribution. Eligible drivers with school-going children can apply for a $200 voucher to purchase textbooks. Selected drivers will also qualify for a subsidy of up to $1,000 for their children’s tuition classes this year.
Since its founding in 2018, TADA has expanded to Cambodia, Vietnam, and Thailand, where it introduced its ride-hailing service last month. Plans for further expansion and partnerships with stakeholders, such as government agencies, are already in the pipeline.
Kim reckons investors are drawn to the sum of these parts. “Our education support programme resonates with socially responsible investors, while our focus on environmental and social impact, which aligns with ESG criteria, attracts investors with a sustainability mindset,” he says.
“It’s a unique combination of ethical business practices, technological innovation, market expansion strategies, community engagement, and sustainability efforts, all of which contribute to our strong value proposition and longterm growth potential.”
Sean Kim on TADA’s standing in a saturated market
To envision the future of ride-hailing services in the region, he adds, we must examine the factors shaping the landscape. Apart from technological advancements, regulations, competition, and socioeconomic dynamics also play crucial roles in determining the trajectory of these services.
Although self-driving cars promise to revolutionise ride-hailing services by ushering in efficiency gains and potentially lowering costs, it will likely mean the loss of jobs. As such, TADA is exploring strategies for including displaced workers. It is committed to leveraging technology to create new job opportunities and income sources for people affected by these shifts, Kim lets on.
Is it possible to have lower ride-hailing prices in the future? He maintains that the answer is nuanced for passengers may benefit from lower fares, but drivers may suffer. TADA believes fair pricing is not solely determined by the platform, but also by external factors and supply-demand dynamics. It is also important to consider the socioeconomic implications.
In the meantime, Kim continues to drive innovation. “We are actively shaping a future where mobility transcends mere convenience and becomes a force for equity and sustainability.”
Art director: Ed Harland
Videographer: Alicia Chong
Photographer: Mun Kong
Photographer’s assistant: Hizuan Zailani
Hair: Aung Apichai using Kevin Murphy
Makeup: Keith Bryant Lee using Laura Mercier
