GetTaxi Cuts Russia Price to $1 to Fend Off Uber, Illegal Cabs
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GetTaxi Inc., an Israeli ride-hailing service that raised $150 million this year, is cutting its Russian prices starting today to compete with unlicensed drivers and Uber Technologies Inc.
GetTaxi will charge passengers in Moscow and St. Petersburg a 50-ruble ($1) starting fee and 18 rubles a minute afterward, Chief Executive Officer Shahar Waiser said in an interview. That means a five-minute ride will cost 140 rubles, or less than half of the earlier price, encouraging people to use GetTaxi instead of unlicensed drivers or public buses, Waiser said.