GetTaxi cuts most London fares to £5

The Taxi app service GetTaxi has fought back aggressively against competitors in the London Taxi/Private Hire by cutting its fares to £5 for many of the jorneys across London for the rest of the year.
GetTaxi are charging a flat rate of £5 for travel of up to 10km, in areas outside the centre of London. The Isreal-based company has already run a similar scheme in New York, with customers who hailed yellow cabs in Manhattan for under an hour charged at 10$. Uber has cut prices by up to 20% in most of the cities they operate.
GetTaxi have heavily relied soley on London Black Taxis and have not followed other app companies by using Private Hire to transport a percentage of their client base.
All of the major app companies have seen significant investment over the last few months with GetTaxi raising $150 million and Uber a huge $1bn after raising $1.2 billion only 6 months ago.
The huge influx of investment has already seen some apps retreating from unprofitable cities, with Hailo leaving North America altogether in October.
Remo Gerber Chief executive of GetTaxi UK said ‘’We believe by introducing these fantastic flat and fixed prices, consumers will see huge benefits of taking black cabs over minicabs, plus all our drivers are fully licenced and undergo extensive criminal record checks.’’