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Every tick-tocks on the clock matters in today’s fast-paced world. The thought of standing in long queues for buses or cabs does not look reasonable in such situations. Uber Technologies, Inc. came up with an innovation to cut the long queues and offer convenience and increase the experience of traveling of its users. Garrett Camp, Oscar Salazar & Travis Kalanick founded Uber in the year 2009. Today Uber is counted as a huge success for the world other than the traditional taxi and competitors.
So we bring Uber Success Story, which is ruling the world of taxi’s or cab aggregator business in the 21st century.
Uber originated from the United States where the way people move has been pioneered. Uber later spread its arms into the food distribution systems, the micro-mobility system (with motorcycles and scooters), and the peer-to-peer travel network as a major leader in the ride-hailing service.
The organization concentrated on the daily travel concerns of clients and came up with a plan to provide its consumers with an affordable, optimal, and hassle-free travel experience. Since about 2019, Uber has a large base of over 110 million global subscribers. So, let’s dive into this gigantic coaster embracing it.
Uber Success Story: Highlights
Uber – The U.S.-based ride-hailing firm Uber was formed under the name Ubercab in 2009. In sharing the market, Uber has become so noticeable that Uber’s post-impacts are called uberization. A colossal 67 percent market share in the United States in 2019 was retained by Uber’s cab services which highlight Uber Success Story.
Although UberEats has a 24 percent share of Uber’s food delivery services in the food delivery industry in 2018. Uber Cabs’ first nationwide extension arrived in 2011, leading to the existence of Uber in the whole of New York. Uber’s decade-long trajectory has seen different benchmarks of growth, financing, scandals, and expansion, all of which have made Uber a household word. Overall Uber Success Story is not only about cab-hailing service but Uber has expanded its legs in the Food delivery system too.
Uber cabs currently run in more than 60 countries and offer you the convenience of selecting from a wide variety of travel choices, from affordable to two-wheeler trips, and from compact cars to SUVs. Besides, not just cabs ( logistics), Uber is evolving with its offerings such as Uber Eats (food delivery) and Uber Freight to extend into new markets.
Uber Success Story: History
It was in 2008 that a conference was attended in Paris by Travis Kalanick and Garrett Camp. The duo was searching for a cab one night during the meeting, but they could not spot any, which helped them realize that it is such a pain to find a taxi when necessary and any innovation that would simplify the process will definitely be a success.
Up until mid-2009, Camp and his buddies Oscar Salazar and Conrad Whelan designed the very first UberCab concept. To enter UberCab, Camp then confronted Kalanick. Uber Cabs service was first reviewed with only 3 cabs in New York in early 2010. In San Francisco, UberCab was publicly unveiled in May 2010.
Competitive Advantage of Uber
With Uber, now you do not have to wait for a long period, you are just a click away from your ride. In the journey, they are eligible to navigate their journey and it becomes easy for customers to pay through the Uber application.
- Choice of car: Uber gives you a chance to choose the car that you prefer. Uber has various segments like Uber Taxi, Uber SUV, Uber X, and Uber Black are as per your requirement. This feature is the best part of Uber Success Story.
- Rate Spike Systems: The price of the ride differs according to such factors, such as the rise in demand, the number of drivers active, the range of requests made, etc.
- Trips Apart From CARS- Uber didn’t only restrict itself to cars. By incorporating boats, helicopters as well as several other vehicles into their roster, they have pushed their gameplay a step higher. They have a motorbike pickup provider (Paris), a delivery service (San Francisco), and a delivery facility for ice cream trucks as well. However, in limited geographical areas, these opportunities are open, but they have driven them to give multiple income streams to their business strategy.
Uber Success Story: Ups and Downs
Ride-hailing technologies such as Uber have become a lethal rivalry for conventional taxi services. Thanks to the many amenities it offers, such as the convenience of reservation and cheap fares, Uber has been the natural alternative for many over conventional taxi services. Thus, taxi drivers have been fighting against Uber across the world.
Again, strikes in multiple nations have been conducted by Uber Drivers as they do not gain sufficient revenue as the organization promised.
In addition to cases of sexual harassment and homicide while Uber rides, the business has often sometimes become a concern.
In the first protection study released by Uber in 2019, it surfaced that during Uber trips in the USA itself, around 3,045 sexual attacks, 9 homicides, and 57 fatalities in car accidents occurred in 2018. There are also several cases in India where female passengers during Uber drives have registered physical abuse, which has been a major concern for the organization. Uber has taken measures to review the criminal history of its drivers to counter this and is now trying to introduce security functionality to the app. This has given Uber Success Story wings.
The current crisis of Covid – 19 has also struck the business strongly. During the recession, Uber’s ride-hailing business plummeted by almost 80 percent, which caused the firm to cut off over 6,700 workers in just a month. Although UberEats has not endured the hit that Covid-19 has acquired, as disclosed by Uber CEO Dara Khosrowshahi, Uber is also rearranging some of its units and shutting 45 offices worldwide.
Uber Success Story Moments
- According to the 2020 report, Uber has surged some success;
- The company has hired around 3.9 million drivers across the globe.
- Uber recorded 1,414 crores of USD sales in 2019,
- Actively, Uber operates in over 600 cities in 65 countries.
- It has touched around 10 million rides worldwide.
- Every day, over 14 million passengers travel through Uber.
- The app is now trending in over 700 cities and is increasingly growing, preparing to deploy self-driving cars by 2020.
- Before the IPO was raised, Uber had already gained funds of $24.7 billion to date.
Uber Success Story: Ending up
Uber Success Story is packed in five points; here’s what you’d like to note from Uber’s ride.
Try owning fewer goods. Uber has just collaborated with taxi drivers and doesn’t own a cab.
Look out for openings instead of hoping for the chance to come to you. At the onset, Uber offered reduced fares and even free trips for its customers.
Don’t overburden your venture. In the initial stages, Uber had just implemented cab-hailing and then slowly launched other companies like Uber eats, Uber Freight, etc.
The most significant part of your business is your clients. Uber still provides consumers with new deals, discounts, and services.
Taking the chance rather than being scared of errors. Find out the only way you can fix the city’s big challenge and move for it.
Remember the famous quotation.“Start before you’re ready”. So keep in mind that, by overcoming all the hardship you can get success.