Catching a taxi can be a frustrating experience – first, not knowing where the nearest cab might be, and then waiting blindly wondering when (or if) it will arrive. Worse is the frustration of a driver responding to a call and arriving to find the passenger has already taken another cab.

UpStart Mobile’s new product, Cabulous™ is the first location-based solution that enables both passengers and drivers to see exactly where each other are in real time, from hail to pick-up. Customers can see all the nearest available drivers on their smartphone, then hail one with a single touch. Once hailed, the driver sees on his smartphone exactly where the passenger is, even if the passenger walks down the block or around a corner.

There are over six million commercial drivers, losing over $5 billion annually on downtime and no-shows. Cabulous reduces no-shows by creating a visual link between driver and passenger. It reduces downtime by increasing the chance a driver will be spotted and hailed while driving, even through low-density areas. And because Cabulous is the first to capitalize on the explosion in drivers’ personal smartphone adoption this year (over 30% and climbing), passengers can not only spot a cab, but they can track their favorite individual drivers, increasing customer loyalty.

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Bio: John Wolpert