From minnow to competitor: Tada on track to be Ebitda positive in 2023
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RIDE-HAILING platform Tada is poised to report positive earnings before interest, taxes, depreciation and amortisation (Ebitda) for 2023, having battled it out with Grab and Gojek over the last five years.
Launched in July 2018, Tada entered the mobility space just after a huge shake-up, with Grab acquiring Uber’s South-east Asia business in March 2018. Almost all the players were looking to grow the pie rather than make a profit.
Taking zero commissions from drivers has helped Tada to reach positive Ebitda, said Sean Kim, chief executive officer of Tada. This structure creates some room to find the optimal price point between supply and demand, where passengers benefit from a lower fare and drivers get more income.
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