April 14, 2024

Rosette Mccartin

Innovative Transportation Solutions

Uber: A New Model For The Ride Sharing Service Industry

Introduction

 ride sharing service industry is growing at a rapid pace. As more and more people join this industry and compete with each other, it becomes difficult for consumers to decide which service provider they should use. This article will give you an overview of the current situation in the industry including some key players, Uber’s unique business model and customer base along with its growth potential.

Background

Ride sharing is a term used to describe the transportation industry. It includes taxi services, carpooling and ride-hailing companies like Uber.

Uber is a mobile app that connects passengers with drivers in their area. The company has been around since 2009 and was founded by Garrett Camp and Travis Kalanick who wanted to create an easier way for people to get around town than traditional taxis could provide. The service grew quickly as word spread about its convenience, safety, low prices and fun features like in-app tipping (which wasn’t allowed by traditional taxis). By 2014 there were over 70 cities worldwide with Uber available on their streets!

Key Players in the Ride Sharing Industry

There are a number of key players in the ride sharing industry. Uber is the largest and most well known, followed by Lyft and Sidecar.

Uber is a private company that has raised over $10 billion in funding from investors including Google Ventures, TPG Capital and Goldman Sachs. The company offers ridesharing services through its app to users in over 500 cities worldwide, while also offering food delivery through their UberEATS app as well as other services such as airport pick-up reservations at select airports around the world (including JFK International Airport).

Lyft was started by two friends who wanted to create an alternative transportation service for people who didn’t want to own cars but still needed reliable transportation options when traveling short distances like running errands or going out with friends on weekends; so they created Lyft! Today it’s estimated that there are over 200 million users worldwide who use its mobile app every month–which makes them one of largest companies operating within this space today!

Uber’s Unique Business Model

Uber is a ride sharing service. In order to use this service, you must download their mobile app on your smartphone and create an account. Once you have created an Uber account and entered your payment information, you can request transportation whenever you need it as long as there are drivers available in your area at that time.

Uber’s business model is unique because they do not employ any of their drivers; instead they act as brokers between riders and independent contractors who rent cars from themselves or other companies like Avis or Hertz (which charge higher prices than what Uber charges). This means that if someone wants to drive for Uber, all they have to do is sign up online with some basic information such as name/address/license number etc., then choose what kind of car they want from within their fleet options (such as Prius vs Camry) before uploading photos onto the website so potential customers can see what type vehicle will be used during ridesharing trips–this helps ensure quality service since riders know exactly what kind vehicle will be picking them up before requesting one through their mobile app!

Uber’s Customer Base and Growth

As of 2018, Uber is available in over 400 cities across 70 countries and has a customer base of over 50 million users. The company also has over 1 million drivers who use the app to make money on the side or full time.

Uber was founded by Travis Kalanick and Garrett Camp in 2009 as a way for people with cars to make extra cash by driving others around town. They wanted to solve one problem: transportation for people who didn’t want taxis or limos, but couldn’t afford their own vehicles either (like students). It wasn’t long before Uber began growing rapidly across North America; within four years it had expanded into Europe, Asia and Africa!

Uber has shown great success in their business model.

Uber has shown great success in their business model. They have created a new market, service model and industry that no one else could have imagined before. The old taxi companies were slow to react to this new threat because they were stuck in their ways and didn’t want to change the way things were done for decades. Uber has proven that if you think outside of the box then anything is possible!

Conclusion

Uber is a unique ride sharing program that has been able to grow very quickly in a short period of time. It has also shown great success in their business model.