"We don't work as an intermediary. We are becoming the software for both [drivers and riders] and while they're using our network, they just need to simply pay a small fee," Woo says."
"I couldn't sell the product. I come from an engineering and finance background, and my co-founder was an engineer. We were just a bunch of nerds," Woo says."
TADA is a Web3 ride-hailing app that uses blockchain smart contracts to connect drivers and riders, enabling greater transparency, fairer driver earnings, and cost savings for riders. The platform implements a zero-commission model, charging drivers a flat software fee of roughly $0.78 to $0.92 instead of taking a percentage of fares. Founded in Singapore in 2018 by Kay Woo and Jay Han, TADA expanded into Cambodia, Vietnam, Thailand, and Hong Kong and began U.S. trials in Denver. TADA captured 11.1% of Singapore's market in 2022 and reported $19.8 million revenue by October 2024. An official New York City launch is scheduled for June 2026.
Read at Fortune
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