Micab, one of the Philippines’ taxi- and ride-hailing startups, now has a new chief executive officer following the exit of its long-time CEO and founder Eddie Ybanez.
Ybanez, who started the venture in 2012, confirmed in a post in his LinkedIn account that he has turned over Micab’s reins to co-founder and long-standing chief technology officer Kenneth Baylosis.
“The senior leadership team has collectively decided to turn over Micab’s reins to my co-founder and long-standing CTO Kenneth Baylosis. As Micab’s new CEO, Kenneth will bring a renewed sense of purpose and vision to the role that will carry the company into the next state of its evolution,” Ybanez said.
Based on his LinkedIn page, Ybanez stepped down in May.
He admitted that Micab had experienced “many significant changes” since last year including deployment across the country and growth in customer and driver base.
“When I started Micab way back in 2012, I could not have possibly imagined that we would have come this far. But we still have so far to go,” he said.
Micab is a taxi booking app available in five cities — Cebu, Bacolod, Baguio, Iloilo, and Metro Cebu. In January, the company claimed to have 4,000 taxis using its platform to offer rides in the Philippines, and has plans to expand within the country as well as to Malaysia.
Ybanez said, Micab’s continued success will ensure that innovation remains inclusive. He suggests that drivers should be able to leverage technology to maximise their pick-up rate, and in turn, their daily income.
Taxi passengers should also be able to more easily hail a cab than standing out in the street and waving their arm and deserve a better customer experience once they get in, Ybanez added.
“And our cities themselves should be alleviated of the burden of taxis circling around, causing congestion, in search of their next passenger,” he said.
Baylosis, meanwhile, joined Micab in December 2012 and left the company in 2018. According to his LinkedIn page, Baylosis is currently CEO and founder of tech firm Zoog Technologies Inc.
An Asia Nikkei report in March said Micab was gearing up for its first major fundraising to finance its goal of becoming a local “super app”. The company raised $105,500 in its seed and angel rounds in 2013 and 2015.