Introduction
Uber technologies refers to a technology startup which offers ride sharing services through facilitation of the connection between riders and independent drivers(contractors) with the use of a mobile app.it was founded by Travis Kalanick and Gareth Camp in 2009. Its headquarters is located in San Francisco, California in the US. This technology has expanded its operation more people adopting it and its value increased globally thereby impacting greatly on the economy.
Conversion
Unlike the normal taxis, Uber drivers are reviewed and screened thoroughly in terms of driving and criminal history. This is a great change in the industry and therefore it has attracted more customers by winning their confidence. In some cities in the US, drivers are even tested for drugs and finger printed for the normal taxis unlike Uber where there is no such thus attracting more drivers to work for Uber. More so, normal taxi drivers being guilty of misbehavior are bound to suffer quick fines, penalties, suspensions or even fired by their employers unlike the Uber drivers. Using the mobile app, Uber drivers do not have to wait for customers on a specific location since they are just a call away.
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Adoption
In major cities, the Uber technology is being adopted 21% of adults using it for personal rides and 9% using it with friends. Almost 24% of Uber adopters in the metropolitan areas use Uber on a daily or weekly basis. College educated and wealthy individuals have adopted this technology twice than the less educated and low income population. 29% of the city and urban populations across the world have adopted the technology and are using it more regularly while 7% of the sub-urban population use them for travel services in and around their home areas. Some of the reasons for adopting this technology is that Uber users substitute the service with driving themselves and also avoiding to drive when drunk forces the private car owners to opt for Uber.
Statistics of People using Uber
Ever since its inception, Uber services are now available in more than 65 countries with over 600 major cities across the world. Uber Company has more than 3 million drivers and has seen the number increase and approximately over 550 million people were using Ubers their means of transport according to data retrieved from the company. The reason behind its success is because one can contact the Uber driver within its vicinity.( Nick, 2012) Also its large number is achieved since it has also partnered with other companies like American Express in the US, Times Internet Company in India and Baidu Company in China.
Economy
Since the launch of Uber technology, it has attracted 18 billion dollars in depth and equity. Currently it is valuated at close to 70 billion dollars hence putting it among the largest start up Unicorn since in history no technology firm has sourced funds from private investors before going public. (Provenzo 2013). This technology has created employment for the drivers and offered them a chance to partake in the benefit promising reward system. For the consumers Uber has made it easier to take a ride, food delivery at the door step and TaskRabbit has provided instant armies of painters, cleaners and plumbers.it has also provided flexibility, large market place for labor and efficient working environment for its workers.
Didi Chuxing in China
This an application similar to Uber where private cars and designated drivers are hired through smartphone and is majorly based in Asia. Research shows that it serves over 500 million users and over 400 cities. According to BBC news, the services offered includes designated driving, bike sharing, food delivery, premiere, taxi, express, bus minibus and enterprise solution. On a daily basis more than 30 million rides were completed according to DIDI’s platform and more than 7.4 billion rides were completed in 2017 as per this platform. DIDI has partnered with other 500 taxi companies to improve their services. Its major competitor is Uber Company which is spread worldwide.
Uber bend
Riders in the bend region use their mobile apps in booking a cab wherever they are without having to wait for taxes hence notifying the driver and are informed of fares and location. Uber Bend drivers are said to be making more than six dollars in an hour than the regular taxes. Hence are said to be the most paid Uber drivers and also in US tipping is common thus the drivers are appreciated by their customers outside the normal charges.
Conclusion
The Uber industry has had challenges since the coming on the market is a good idea hence receiving rivals like the Didi chuxing in Asia and other markets. The Uber technology have brought more pros than cons and its popularity and usage is set to rise in the coming year. Throughout the world Uber company has created job opportunities to many drivers thus has improved their living standards.
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References
BBC, “Judge Overturns Uber ride-sharing,” BBC, September 16, 2014, http://www.bbc.com/neThews/technology-29221372 (accessed March 10, 2019).
Nick Bilton, “Disruptions: Taxi Supply and Demand, Priced by the Mile,” The New York Times, January 8, 2012, http://bits.blogs.nytimes.com/2012/01/08/disruptions-taxi-supply-and-demand-priced-by-the-mile/ (accessed March 9, 2019).
Provenzo , James. The taxi. Book baby,2013