Uber, the name that changed the taxi service industry forever, is one of the most successful start-ups to date. Starting off as just an idea, it’s now become a multi-national taxi company that operates in 467 cities across the globe.
So, let us see what countries it operates in and who its major competitors in those countries are:
Even after facing tough competition from so many other app based taxi service providers, Uber has maintained its superiority in the industry and has now become a synonym for taxi service across the globe. You don’t call a cab anymore, you call an Uber when you’re late for a meeting or for catching a flight. The reason being: no other company in the industry has such a massive global reach.
Uber has also acquired Bing’s mapping assets and deCarta, which is a geospatial software, providing personal navigation and location based service applications.
Even the founders, Garett Camp and Travis Kalanick, wouldn’t have thought that their brainchild would reach such heights when they came up with the idea in 2009, and presented it to the investors. But as it happened, the idea became a hit with the investors and Uber hasn’t looked back ever since.
As of 2016, Uber has raised $14.11 billion in a total of 16 rounds of funding and is currently worth 62.5 billion dollars. So, without owning any vehicles of its own, Uber is worth more than most global automobile giants like BMW, Ford, and General Motors.
This is some success story isn’t it?
Now you must be wondering how does Uber work without owning any of the taxis that run under its name? The answer is that it partners with drivers who’d like to work full or part-time. Approximately 50,000 new drivers sign up every month because of its popularity.
Uber is so popular with freelance drivers due to the following reasons:
· All it takes to become a driver is a licensed car
· Flexible Hours: The drivers can drive in their free time as per their convenience.
· Approximately 51% of drivers drive less than 10 hours a week
· Uber keeps 20% of the ride’s fee – the rest is for the drivers
· People can continue their full time jobs even after driving
· 87% of drivers say that they chose this platform to be their own boss and set their own schedule
The Uber Story
I have been using Uber for almost a year now, usually for rides to and from the airport. I have always had good luck with the service, encountering friendly and safe drivers. One driver I met described herself as a sort of counselor to wayward travelers. Another told me about his time as a sanitation worker, making an easy $500-$1,000 extra per month, selling stuff people assumed was junk and tossed out.
Ride services and car-sharing are becoming more common these days, especially with smartphones.
GM recently announced a new program called Maven that gives customers an ownership experience through the car-sharing service. One of Maven’s focal points is ease of use through a smartphone app. The program was recently tested in Ann Arbor, Michigan, home of the University of Michigan.
Since I grew up in a rural community, there was no taxi service of any kind. In fact, even if you had a bike, you were okay because you could pedal across town pretty easily. Many people have a hard time believing my first ride in an official taxi was in New York City in 2015.
While I don’t have a lot to compare from my own life, I’m told services like Uber are less than a traditional taxi – but I am not for certain on that. I’ve never had a fare over $30.00, although a Virginia woman received quite the bill after not being fully aware of the pricing guidelines.
Uber, believe it or not, might be turning into something more than just a ride service. A new graphic from our friends at ParcelHero details 12 things you may not know about Uber.
I was pretty fascinated by a few of them . . . like Uber doing helicopter service? Say what?!