MVL Foundation is making a significant move to penetrate the US market with its ride-hailing service, TADA. The organization has announced a plan to raise $100 million, with the goal of launching its services in New York City by June 2025, as enthusiastically stated in the publication.
Funding Allocation for TADA
The funds raised will primarily be allocated to establishing TADA in one of the most competitive urban transportation environments globally. MVL Foundation aims to replicate its successful zero-commission model, which has gained traction in Southeast Asia, to entice both drivers and riders in the US market.
Strategic Expansion into New York City
This strategic expansion reflects MVL's commitment to diversifying its operations and tapping into new revenue streams. By entering the New York City market, TADA hopes to challenge existing ride-hailing giants and offer a unique value proposition to users.
Recently, Classover announced a significant fundraising initiative of $500 million to establish a corporate treasury reserve in SOL, contrasting MVL Foundation's $100 million plan for its ride-hailing service, TADA. For more details, see read more.
