As you may have seen in our earlier post entitled Best Startup Business 2014, we are looking at companies that could vie for the title of Best Startup Business 2014. In this series we are taking a look at some well-known success stories as well as brand new businesses that are still testing their offering. Our focus today falls on the creators of the taxi-hailing app Hailo, a fellow peer-to-peer service! Known as “The Taxi Magnet”, Hailo is the genius creation that came about when three London cabbies met with three tech entrepreneurs back in 2010. They identified the problem that taxi drivers spent the majority of their time out driving around, looking out for new customers, during which time they were not earning. Their solution was to create an app that connected taxi drivers with passengers by way of a virtual hail. Hailo was not the first company to make a move into the taxi app industry, but it was the first one to look at improving the services on offer from the driver’s perspective as well as the passenger’s, and ultimately this is what has led to Hailo’s success. London’s taxi industry is over 400 years old and well regarded the world over, so Hailo was not looking to take it down, but to improve it and bring it forward into the modern age.