Uber is one of those modern companies kind of like SnapChat or Facebook. Something is always going on, and the company is always in the headlines. Sometimes it’s positive press coverage and other times, maybe not so much.
Despite some recent turmoil and the ousting of the original Uber CEO, the company seems to be going strong, and demand is there. One indicator of this is the fact that the company is always looking for new drivers, even offering big sign-up bonuses for new people to come on. Of course, there are also Lyft driver referral code options as well, but Uber, as it stands now, continues to hold most of the market share.
It can be important in the business world to keep up with what’s happening with Uber for a few different reasons.
First, most business travelers use the rideshare service, as opposed to renting cars or taking taxis. It’s also important to see what Uber is doing from an investment standpoint, and as a way to keep up with overall business and economic trends.
The following are some of the headlines happening with Uber right now.
Business Travel Market
According to a recent post on Forbes.com, both Uber and Lyft are continuing to “pound” the U.S. taxi industry, at least when it comes to business travelers. Rental car providers are also suffering under the ever-growing shadow of rideshare services.
Based on a recent report from a travel and expense software company, a combination of Uber and Lyft accounted for 68% of all ground transportation expenses. Uber made up 56% of these expenses, but Lyft showed tremendous growth from 4% in 2016 to 12% in 2017.
Uber was the most expensed of all brands in the survey, significantly in front of the second most expensed brand, which was Starbucks.
Uber announced the rollout of something called ExpressPool, which is similar to UberPool but it’s intended to be a more streamlined variation.
The price of these ExpressPool rides is estimated to be up to 50% cheaper than UberPool rides, and up to 75% cheaper than taking an UberX ride.
The Uber director of product said the goal is to make Uber more accessible to everyone. One downside to take advantage of ExpressPool is that you may find that you have to walk a block or two to a designated pick-up area.
In that way, Uber is moving more in the direction of shared public transportation.
In January, Uber brought 35 of its drivers to San Francisco to hold a summit and understand their thoughts and feelings. It shows Uber is putting more emphasis on the driver experience.
Uber handled the costs of meals and a stay at a local hotel. Participants also got ride credits to use during their stay.
There is a concerted effort from Uber to improve relationships with their drivers, and it could be an uphill battle. Of course, this is why Uber and Lyft offer driver bonuses, and without quality drivers, the companies are out of business.
Driver retention is on the decline, but now Uber has pledged to overhaul its relationship with drivers, and they’re instituting new programs including robust features, new tipping options, and 24-hour phone support.
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