Uber, the US based company was found in 2009 by Travis Kalanick and it has now become the most valuable startup in the world. The company is worth $51 billion, how freaking amazing is that? It is one of the powerful sharing economies and it poses a dangerous threat to the labor economy due to alarmingly increasing rate of freelancers. Also, the traditional yellow cabs are slowly becoming extinct like the Stone Age dinosaurs, not kidding!
Uber was first launched in the New York City in 2011 and it has become very popular with huge market revenues. In fact, NYC has become the largest market and most of the roads are only filled with Uber cars. There is no sight of yellow cabs or whatsoever and kudos to Uber for such a remarkable growth in a short period of time.
According to a survey, yellow cabs considerably take more rides than Uber cars. But most of the New Yorkers prefer Uber to yellow cabs because it is a lot safer and cheaper as well. The company has a lot of features like UberPool, UberBlack and it does feel good campaigns to maintain its fame. It even has a stronger media support for market strategies, no wonder it has become very popular in just 4 years! People who own private cars can now make money off Uber, thanks to the sharing economy. The smart phone app is also one of the reasons for Uber’s phenomenal growth in the NYC!
Uber has always been people’s favorite in the past few years and it poses a dangerous threat to many traditional yellow cabs that wander around the city roads. The US based ride hailing company was found in 2009 and it is now an inspiration to many other transport network services. It offers many features that are cheaper than many other services and it is also quick and convenient. It has also partnered with Tesla to buy every autonomous car it produces in near future.
Uber’s potential rival is Lyft because of the similarities in features but it is nowhere close to Uber in market revenue. Travis’s company is worth $51 billion and is now the most valuable startup in the world. Be it a doctor’s appointment or a late night party, you name it and Uber would serve it, that’s what advertisements say!
Traditional taxis were popular among the business travelers but now, Uber has taken over that category as well. Seems like a clean sweep for the mighty Uber! Business travelers take more rides than other users and it would create record breaking market revenue for the US based company.
Uber wants to grow stronger and wider with its service across the globe and now that it has gathered support from the business travelers, it is beaming with pride and joy. However, the critics say there is no more room left for the company to grow wider. Nevertheless, Uber is not really bothered about the statistics and theories!
The ride hailing company brings out its new feature carpool in Kolkata, that enables passengers to share their cost of the ride.
Through this service passengers are offered with 30 percent lower fares for the rides they take using Uberpool and it also reduces congestion on the roads.
This main idea behind the launch is to reduce pollution, that chokes various metros of the country by bringing out more cars on the roads.
Uberpool provides the facility for passengers to share their rides with those who travel in the same direction, sharing their ride and cost for the ride for at least 30 percent. Most of the people prefer this service as it reduces the ride fare.
People who travel alone need not have to get worried about travelling alone, as Uber provides such a wonderful facility for travellers.
Uber have to develop a Kolkata based app that gives the data related to traffic congestion and traffic conditions in the areas where GPS is enabled.
Kolkata is one of the fastest growing market of Uber and the people who used to prefer yellow taxis have moved to app based ride hailing service as it is convenient to use with affordable prices.
In order to accept the guidelines of West Bengal government Uber has planned to apply for On Demand Technology Transportation Aggregators license.
The San Fransico based ride hailing company Uber started to focus on cash payments. The company that is well known for its credit card payment system has now expanded further with cash payment option in four new cities of India.
The cash payment test of the company started in Hyderabad in the month of May but now it is extending to Chandigarh, Ahmedabad, Kochi and Jaipur. In order to use the option, Passengers have to select the cash payment option before they order for their rides.
Uber took this move by knowing that, cash payment is the best payment option for millions of users across India specifically in small cities. It gets tremendous response from passengers for cash payments, but it failed to disclose which areas should be paid for through cash. The company adds many safety features for the safety of its own passengers.
Uber also offers some more options for passengers in India, while the company is well known for its rigid behaviour of getting credit card payments from customers. Other than the cash payment, the company also included a Paytm wallet option that enables the customers to load their account via credit card or debit card and internet banking is also possible.
India is far from Uber influencing market and it is not the only company that takes big moves for country’s taxi app. Uber announces its plan of investing fifty million dollars in a support centre of Hyderabad in a partnership with local authorities.
Uber services are becoming popular in school side, as many school students started to use the service. From services to carpooling, a huge number of families rely on the service to pick up and drop their children from school to home and other destinations. Students feel more comfortable through this service. There is huge competition for Uber as millions of startups use this feature for transporting children. Ride sharing companies are searching for an opportunity to explain people that they can be a substitute for any situation they face in their life including going back to school. Though Uber and Lyft requires their users to be at least 18 years old, it doesn’t stop the parents from letting their children use the service on orderly basis, creating an unauthorized market for UberBLACK and offerings from other ride hailing companies. This practice was not yet confirmed by either of the companies. One of the Lyft spokesman claims that they will not be allowing any unaccompanied minors to use their service. Drivers of other ride sharing companies are well trained to get kids out of school and check in after their school hours. Uber introduced UberFAMILY a ten dollar upcharge for cars that arrive with a seat for child in Washington and NewYork and is planning to explore the service in Chicago. Some rivals of Uber including Shuddle and HopSkipDrive offer rides to children along with a staff of mostly female drivers with safeguards aiming the parents to let their children to use the service. Both of these services are looking forward to expand this feature by next year to other markets.
The ride sharing company is expanding its service in Toronto, despite of the city’s demand to stop its operation. Uber claims that it will launch its carpooling option Uberpool this month, providing the facility for its users to share their rides. Users who choose this service can share their rides with the riders who are travelling in the same direction. Through this feature a number of riders can save their money up to 30 percent for each ride they take. People who are worried about travelling alone can use this service, which gives them a friend who accompany them throughout their ride. It took two weeks to test the carpooling service last summer during the Pan Am Games. The company says that more than 17,500 travellers are using the service. The city council asked licensing officials to evaluate how to regulate Uber and demanded Uber to stop its operation in the city meantime. The company resists as more than 4 lakh riders and sixteen thousand drivers rely on this service. The company says that Uberpool helps people to travel to their destination at cheaper cost and the service reduces congestion and pollution, as more number of people fits in a single car. It is a bad time for Uber as the city stands against this service. The city opposed the service saying that lot of people are using the car service adding more number of cars on the roads, instead of using public transport.