It’s a “cab-sharing” website that aggregates user-generated cab/private car rides and matches riders willing to split the fare. The startup is offering its “cheap ride finder” technology to radio station websites to help drive digital revenue. The app, a station-branded automobile ride service, allows users to share cabs and book private cars at exclusive discounts. The tool can be integrated into station sites and allows them to partner with advertisers for more revenue opportunities.
“Our application offers two revenue streams for stations right out of the box: additional display inventory and our unique HotSpot directory,” CabCorner founder Jonathan McKinney said. “And more importantly, advertisers seeking to associate their brand with a popular online utility can do so with in-stream and on-air spots.”
CabCorner’s technology connects individuals located in the same area who are headed the same direction around the same time. It also facilitates cab bookings for users in need of guaranteed rides, and offers a range of other functionalities, such as the “fare calculator.”
CabCorner.com, the homepage for the technology, launched its private beta less than four months ago. In that time, the site has amassed over 14,000 users. 45% of CabCorner users have used it more than once, and on average use the site for over 3.5 minutes per visit. CabCorner now seeks to reach the market through radio station integrations.
The CabCorner app is localized to each market. Company officials indicated they were offering the app to stations in the top 100 markets throughout the US, and would be doing so for free-with the expectation that participating stations will promote the app on their websites and with in-stream/on-air support. The company is offering sales materials to station AEs, to ensure that monetizing the platform is turnkey.
The app is being offered in partnership with digital media consulting firm Digital Media Army.
Digital Media Army’s Lukas Snelling tells RBR-TVBR CabCorner supports the application by receiving referral fees from livery and cab partners as well as selling HotSpot directory listings. “Stations generate digital revenue by integrating the application with sponsor promotions, selling display advertising around the application or selling HotSpot directory listings.”
HotSpots are pickup and drop off retail locations. Being listed drives traffic to that location.