Uber Technologies- statistics & facts

A strategy to disrupt the transportation economy

One of the prevailing methods of improving revenue streams is to innovate in the market place to gain a competitive advantage over other market participants. Innovations shape the market-making mechanism in the economy by introducing new opportunities and challenges to the growth process. Uber Technologies follows this strategy and has a fierce corporate outlook to disrupt the personal transportation economy through its innovative approaches to old problems. Uber Technologies offers a multitude of services within and outside of the sharing economy, including bike-sharing, air taxis, Uber Eats and more. As of May 2018, Uber was the leading ride-hailing operator worldwide, with a market value of 72 billion U.S. dollars. Through merging science with practice, Uber maximizes corporate and social welfare. Thus, Uber bets on the future of transportation with its company operations, not just the sharing economy. A striking example of Uber’s disruptive business strategy includes drone food delivery. As of January 2019, the leading ridesharing company had received investments amounting to approximately 24 billion U.S. dollars.

Uber in the competitive market

Uber leads a long-term growth, and the company is still several years away from being profitable because of investments into new ways of doing business. A dogged corporate strategy comes at costs and challenges since the future is radically uncertain. Competition amongst firms is an example of this. For instance, Lyft is a major competitor of Uber globally. Although Lyft is not directly an innovator and investor in new business patterns, it has a successful strategy that advances existing possibilities in the economy. Lyft entered the market in 2012 and challenged Uber’s approach in the market by offering differentiated market services that improved Lyft’s reputation in comparison to Uber. As of August 2020, Lyft had almost a third of the market share. As the time unbound, we will know if Uber will ignite opportunity by setting the world in motion.

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