Founded in 2009 by Travis Kalanick and Garrett Camp, Über gained instant fame in the ride-hailing industry.  The pioneer peer-to-peer ride-sharing service overstepped the traditional taxicab industry in more than 60 countries. Inspiration for entrepreneurs around the world, Über has become the face of the on-demand marketplace within 10 years of its launch, creating a ripple effect.  

It is valued at $114 Billion, not owning a single cab — raising eyebrows of many.  Are you also wondering how Über achieved such groundbreaking success? 

Let’s explore. 

Innovative Experimentation

As a business, we often spend most of our time trying to understand a customer’s needs and how to solve them. On the other hand, what really works is what strategy sticks. Entrepreneurs who seek to gain innovation, success, and exponential growth should follow one of the most important aspects of a business — experimentation. 

What may sound like a hit strategy hypothetically, may not work in reality. But you will never know until you try it. This is why experimentation is important, and that’s what Über does. 

Multiple Revenue Streams

Revenue is the sweet nectar that fuels any business venture. A common misconception is that ride fares are the main source of Über. While that may be right, that’s only the tip of the iceberg. 

Under the surface, Über is a diversified platform that offers more than just ride sharing. Its income streams include:

1. 1. Ride Fares: This is Übers bread and butter. Once you pay for a ride, a portion of it goes to the driver, and the rest to Über. It also uses the surge pricing model. Prices increase at peak hours. Simply supply and demand — economics 101. 
   2. Advertisements: Like all digital platforms, ads are the go-to revenue source for Über. With millions using the app every day, it has an audience, making it a lucrative offer for other brands and collaborators. 
   3. Other Services: The app is constantly evolving to offer new and unique features such as Uber Eats for food delivery and Uber Freight for logistics.  

Referral Program

Uber’s rapid growth is also due to its ingenious referral program. Other companies, including Groupon, DropBox, and Tesla have also used this strategy. It’s a great way to get a word-of-mouth publicity. For Über, both riders and drivers can refer the app to their friends and get free rides and discounts.

Rating and Review System

A major differentiator between Über and traditional taxis is the rating system.  Customers can rate their driver, helping other customers to ride safely and conveniently. The rating system not only promotes trust but also encourages people to behave responsibly. It’s also a great way to increase your search engine rankings on Google. 

Creating Functionality 

In conclusion, Über focuses the development of a seamless platform, beginning with a user-friendly landing page that facilitates effortless sign-ups. Moreover, the distinction between passenger and driver apps, complemented by a highly efficient admin panel, underscores Über’s commitment to managing both platforms flawlessly and with optimal effectiveness.

If you’re looking for Uber-like app development, do get in touch. We have experienced travel app developers who can effectively handle your Uber-like app development project.