Uber Business Model
Thanks to mobile technology of today, we have got an application like Uber that lets the user book a ride from any location, anytime. Unlike the previous times, users do not need to wave a hand or whistle to hail a taxi and then argue for an affordable fare. With an application like Uber at their side, now users can book a ride with just a few taps on their smartphones. This has changed the scenario of the transportation industry drastically.
Started in 2009, Uber now successfully operates in 633 cities worldwide and serving more than 50 billion users. With the effective strategies and excellent customer support, Uber has conquered the traditional ways of taxi-hailing industry and is expanding its reach day by day by completing an average of 1 million trips per day. According to a survey, the current valuation of Uber is over 70 billion dollars. With the changing trend, Uber has also started providing delivery solutions for all through different applications and are running successfully since. Sitting at the top of the transportation industry, the major factor working behind success wheel of Uber is its innovative business model. Following which any startups can achieve success and can become a tough competitor of Uber.