Uber was established by Garrett Camp and Travis Kalanick in 2009. Initially, Uber was recognized by the name UberCab: an innovative organization radiantly connecting the transportation industry with technology via its ride-sharing app. In the year 2011, UberCab was renamed as Uber which means ‘super’. In 2012, Uber came with new light UberX – a facility which allows people to work for Uber and earn by driving their car. Current CEO of Uber is Dara Khosrowshahi. Uber’s business idea revolves around providing opportunity through movement. The core service of this unit revolves around On-demand transportation technology and its app act as a platform for connecting driver-partners and riders.
Uber’s worth is more than the US $40 billion. The customers like Uber services because it provides a less costly, more convenient way to reach the destination. Uber is covering more than 750 metropolitan areas of the world. It’s headquarter is situated in San Francisco, California. Customers can hire a vehicle or other services through its website and mobile apps. It’s the largest ride-sharing technology in the world. Its app is the first ride-sharing apps, operating across the globe. It has approximately 100 million monthly users.
SWOT Analysis means Strengths, Weaknesses, Opportunities and Threats analysis.
- It is a leading brand in ride-sharing services.
- There are a various competitor of it like Lyft, Ola, Didi and Uber. But Uber is at the top position.
- It is providing various services to its customers such as drive and earn, ride, eat etc. High-quality services are provided to Uber Black Users.
- Its operational criteria rely on customer-to-driver interaction, any correspondent is not needed. Instead of the traditional taxi system, it operates at quite a low cost.
- To give the best services to customers, Uber has unlimited vehicles. Uber is not working as per Regular Taxi polices.
- Uber working policies are very flexible, it’s not hiring full-time drivers.
- Uber is providing trustworthy and safe services to its customer. Customer can pay the service cost using any cashless payment media.
- Customer can get services at any time and drivers can work on flexible hours.
- Uber’s working system is dependent on the Internet. So, to provide services without network facilities is tough.
- Customers are availing uber services by paying a good amount. But drivers are not getting good earning from the company which is creating a problem in the consistency of drivers.
- In the previous years, Uber is facing various issues due to unethical activities performed by their drivers like sexual harassment, using abusive language etc. These activities are pointing question-mark on the secure service provider image of Uber.
- The initial investment of starting up like Ride sharing services is very less. So, it’s easy to get a competitor in this field.
- Uber accounts all details of the customer like its source and destinations. So, it’s hindering the privacy of the customer.
- To get relive from the attitude of Local cab drivers, customers prefer educated drivers. So, it’s a great opportunity for Uber to get high revenues.
- Digitalization is covering almost every region of the world. So, it’s easy for Uber to expand their region coverage.
- By adding “package and movers” services, Uber can generate more revenues.
- Customers can stick to Uber services when they are reaching their destinations in the least time. E) This is only possible by mushrooming of drivers.
- Putting hands in Ambulance Services, transporting pets to the vet services can increase Uber’s venture.
- Uber can opt for self-driving car services.
- Competitors can provide the same services at a low cost.
- Driver’s unsatisfied attitude due to less-profit margin polices.
- Due to the lack of direct link with drivers is increasing the scope of scandals.
- Revolution of Self driving cars of Google can cause a problem for these type of companies.
This article is highlighting some points related to the analysis of SWOT for “Uber”, a big name in Ride Sharing Services. Uber can work on upcoming opportunities to expand its venture. Necessary security measures are required to handle various threats which are trying to spoil the image of this great brand.