Shohoz, Ride-hailing, and The Ambition Of Building A Platform For Everything Necessary With Maliha M Quadir, Founder and MD, Shohoz (Part-2)
Read the part one here.
Shohoz Founder and Managing Director, Maliha M Quadir, has a fascinating story. She was born and brought up in Dhaka. Studied in the US: Smith College and Harvard University. Worked at some of the top institutions, Morgan Stanley, Standard Chartered, Nokia, and Vistaprint, spanning multiple countries, US, Singapore, India, and Indonesia.
Toward the end of 2013, she decided that she is finally ready to pursue her lifelong dream. Starting her own tech company in Bangladesh. She left her job, raised a few million in seed investment and moved back to Bangladesh. Shohoz was born in 2014. A platform where you could buy tickets – bus, events, movie, and launch.
For the first three years, it focused solely on tickets and has built a widely recognizable brand for online ticketing in Bangladesh.
In March 2018, Shohoz formally entered the ride-hailing market in Dhaka. A few months into it, it raised US$15M in funding from a host of investors including Golden Gate Ventures of Singapore, which is, interestingly, also an investor in Go-Jek of Indonesia. The largest funding round in any Bangladeshi early stage company so far.
Shohoz claims it has over 50,000 drivers on its platform and served over 1.5 million rides in October this year (this interview was done on 29th October 2018). It has entered into food delivery, car and aims to add more services in the future. The startup has aspiration get into the truck and launch fintech products in the coming years. It aims to build a platform. “Shohoz is anything necessary,” says Maliha.
Meanwhile, competition has been intensifying in Dhaka’s ride-hailing space. All the major players in the space are trying to do everything to stay ahead and fend off competition. One app for all your needs, a platform strategy – these are the common strategic dialects we hear. Shohoz says it has a better team and a better long-term strategy in place. Can it pull this off?
In the second and final installment of this excellent interview, Shohoz Founder and Managing Direct Maliha M Quadir tells us about Shohoz’s growing ride business, Shohoz’s decision to get into food delivery and logistics, shares insight into how Shohoz has grown its business over the past years, culture and how Shohoz operates as a company, the challenges ahead for Shohoz now, competition in the ride-hailing space, discusses why achieving customer loyalty is the biggest challenge in ride business and how Shohoz using a combination data and analytics to better understands its users, Shohoz’s platform strategy and its ambition going forwards and reflects on her management philosophy, what it takes to raise money, and what makes a great founder and much more. I hope you enjoy the interview as much as we did!
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Ruhul Kader is a co-founder at Future Startup. He writes about business with a specific concentration on strategy, technology, and society. He can be reached at [email protected]