Hundreds of thousands of drivers. Millions of users. Billions in VC funding. $51 billion valuations. After seeing the explosive growth of rideshare companies over the past few years, it is definitely safe to say that a new industry is exploding, and it is hitting the world full-force.
Uber released internal data on Thursday arguing that drivers who use the app to give rides-for-hire in their personal cars are making more money as chauffeurs than professional taxi drivers do — as much as $17 an hour in the District and Los Angeles, $23 in San Francisco and $30 in New York.– Washington Post
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It goes without saying that taxi use is rapidly declining. For example, in large cities like Boston and New York City, rideshare use is causing taxi medallions to decline in price. Cab drivers are hurling lawsuit after lawsuit at Uber and other rideshare companies.
But the main players in the industry refuse to be shaken, and keep tightening their grip on the transportation industry.
What will 2017 bring?
In 2015, Sidecar made the shift to a full transportation company. Uber introduces tons of new features, including their delivery option Uber Eats, UberEVENTS for corporate event planners, UberRUSH, to rival logistics behemoths FedEx and UPS.
Lyft and Uber grew their driver base by offering massive sign-up bonuses for new rideshare drivers, resulting in massive fleets bigger than we ever expected. In addition, there are countless tools for rideshare riders, including widgets that estimate ride fares, tons of free promotions to recruit new riders, and information up the wazoo.
With this massive amount of momentum, we can only ask, what industry-changing features will be rolled out next?