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Rideshare advertising startup Octopus raises $10.3M led by Sinclair

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Octopus

We have seen that ride-sharing startups are growing at a rapid pace in recent times. Not only are we talking about the likes of Uber, Ola, Lyft and others which have become global players but we are also talking about the local players that are serving customers regionally.

There is also a saying that if one service starts then others follow because people start to figure out ways to make money out of those bigger services. These services or startups are often called micro startups. We have one such similar startup which is a service based on a different service.

As we mentioned before, ride-hailing services have grown a lot in recent times. Therefore, people who make money from them are the companies providing taxis while the people working inside them are also benefitted. However, companies are finding different ways to generate revenue stream out of those services and one of those is an advertisement.

We have seen that the best way to generate income while providing services for cheap is through ads. Therefore, we are reporting about a startup which serves you ad inside ride-hailing services. So if you are travelling in an Uber or Lyft and you see an ad inside its infotainment system, you can be assured that the ad is from this startup named Octopus.

Not only that, TechCrunch reports that Octopus has managed to raise a funding round of $10.3 million which has been led by Sinclair Digital Group. Octopus says that they provide drivers of the ride-hailing service with tablets that have games in them. These games are a good way for people to spend time as well as the drivers can show an ad and earn revenue out of them. Also, if a person is not interested then he/she can mute the system so that it does not affect their experience. In this way, Octopus says that driver’s ratings can also be improved.

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