How we helped RideHire build a dynamic price aggregation algorithm and an MVP for limo charter marketplace in the US?

RideHire is a limo service marketplace operating in the US markets. The marketplace uses technology to add transparency and trust in the competitive private limousine, and charter bus rental industry in the USA. The platform provides real-time online quotes for renting limousines, party buses, etc.

Mighty Inyang, the CEO of RideHire posted the requirement for building the solution for the first time in 2017 on Upwork. He was tired of working with Indian and Canadian agencies who failed at meeting his requirement of building a complex price aggregation system for his idea.

The client was looking to build an MVP for a limo booking service with in-built real-time price aggregation system.

The problem - limo rental is an unorganized industry with so many variables for calculating a fair and accurate fare in real-time. For example, hourly rates differed based on the season/event such as Christmas eve, prom night, New Year's Eve. On top of that, the hourly charges depended on driver's gratuity, location fee, hour of pickup, etc.

Being in a different region and economy altogether made things harder. To build a solution required our team to gain deep insights and understanding of the limo charter and tour industry including tolls, fuel costs, surcharges, etc. Then convert all the variables into a functional mathematical equation, and finally turn it into a scalable and accurate solution that users can use.

We created a dynamic algorithm based on all the industry parameters including the fuel costs, location, special event prices (surge cost), surcharge, driver gratuity, etc. The algorithm was converted, transformed and deployed into a fully-functional MVP platform where users can log in and check the price of hiring a limo or party bus in real-time.

We also improved the price aggregation algorithm by evolving the base algorithm and adding more mathematical rules. Plus, we added several other functionalities such as Google Maps integration, dynamic quotes based on industry trends, and surge in demand.

The MVP was further evolved to create a responsive platform that anyone can use to find info about limo rentals, book a limo or charter bus, and place hourly booking requests.