U-Hop by Floyd Mayweather may operate soon in PH?

Floyd Mayweather, former American professional boxer and now a promoter, makes its own investment in a Manila-based ride-hailing app, the U-Hop. 

U-Hop app

In March 2016, U-Hop revealed it had raised US$7.4 million in seed funding. The Uber has just exited the Southeast Asia market and may sound counter-intuitive for U-Hop to operate. But a spokesperson of this start-up firm said that it aims to launch its services in the US first - Uber's homeground, where it dominates the market.

The Philippine ride-hailing market are about to be competitive as the Land Transportation Franchising and Regulatory Board (LTFRB) have approved operations of the homegrown market namely: Go Lag, Ipara, Micab, and Hype while the HirNa from Indonesia is yet to announce its start date.

Floyd "Money" Mayweather (third from left) announcing his firm’s investment in U-Hop on May 10. Photo credit: U-hop

Go-Jek, a ride-hailing and online payment company from Indonesia also announced its plans to expand in the Philippine market. 

There are now a lot of upcoming ride-hailing operations and may be the answer to our prayers for lower fares on our rides. 

What are your thoughts on this? Let us know in the comments. 

Source: Tech in Asia