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 by Floyd Mayweather may operate soon in PH? U-Hop by Floyd Mayweather may operate soon in PH?](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgS_riioVzgDPdR9R3ha0EscMqOVRGvw_zCJ7DNi6UZT9wlHvlJt3gxdx_NxvY_A2SwQgLK5dEyjYESA_de0Pjp8Jhe_latOyBxpH1DlNiZIavrUINvGP7qDRXnSo6rwg-aKli2yGnlQrI/s1600/uhop-app.png) |
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 Floyd "Money" Mayweather (third from left) announcing his firm’s investment in U-Hop on May 10. Photo credit: U-hop](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHtHP5PMqjBcRIfRSznmRkCSDvAjZhl9Xq1_CDogXbwUAxkAwBaE0IDECcTlrvQWokw1kWyn9PLjy05xvhfKLZdlfNDvRj2zmWp2JmhallB77w2sM8SVo-0x78c1B8B7PpeCxiI7amDHw/s1600/uhop-mayweather.png) |
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
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