Texxi Global careers

Texxi is a large-scale, real-time, dynamic ridesharing system that allows users to request shared ride seats in any type of vehicle using a mobile phone (SMS, Smartphone app), geolocation, a social network and a Futures Exchange.

They can travel alone

We look at a cab fleet and aim to statistically arbitrage the income through a combination of allowing drivers to lay off income risk in the market (trip default swaps) and by grouping up passengers at lower fares to make statistically larger aggregate income (sometimes we lose (1 passenger per cab), sometimes we win (3+ passengers per cab), on average we win by a certain margin). The trick is to set the seat price right for the area and marketing strategy, while crushing rivals who would lose too much money trying to match the statistical average price we are paying to our fleet operators.

The system is based on a project proposal from 2003 - 2004 for a US based capital structure arbitrage hedge fund using credit contagion modelling.