How Uber Skyrocketed, The Business Model Behind It And How Can It Be Mapped For Different Industries?
UBER is a famous On Demand Transportation facility which has created a revolution in Taxi Industry. This online company is famous and dominant all across the world. There are several reasons why UBER took this status so quickly. A successful business model is among the most prominent reasons recognized by the experts. It is believed that UBER brought revolutions in its transportation service system resulting in big revenue of $50 Billion for it. Recently, UBER signed agreements with venture capitalists to get $8.2 billion. UBER skyrocketed after having big investments and it is present in more than 60 countries of world. All the industries can take the advantages of these business models with the help of OD TAP solutions.
Business models bringing investments:
Above mentioned facts clearly show that UBER is getting huge investments and interest of capitalists just because of business model development. In 2015, UBER found 48.2 billion and it got more than 8 billion users in the world. Today, the company is operating it services with 160,000 drivers providing 1 million trips to the customers on daily basis. UBER developed a successful Revenue Generating Model for its business. People pay cash to drivers at the end of a trip. This is the main source of income for taxi companies. UBER is also using this system. However, it provides 1 million trips on daily basis. Just multiply the cash amount with 1 million and you will find the total incomes on daily basis. There are some successful business models UBER used to get a stable position and OD TAP solutions provide solutions to all business models.
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Different cars for everyone:
People who don’t want to travel in a yellow taxi can hire a black cab. It is amazing because UBER is giving a choice to the travelers. It has introduced UBER x and UBER black for the travelers who like a black cab for tours. On the other hand, travelers interested to get cheap taxi service can use UBER Taxi while UBER SUV offers luxurious drive to customers.
Surge cost technology:
UBER business models mapping is important because it has grabbed the attention of customers. For example, variation in traveling costs according to situation is a normal aspect. UBER has tried to take maximum advantage of this situation. Per mile cost automatically increases when demand of cabs is high in the markets. UBER is implementing business models with modern technologies. It enables it to fix the per mile fares according to number of requests and available drivers. OD TAP business models would be a great opportunity to get the real solution.
UBER for kids/senior citizens:
UBER has handled the business model development challenges according to the trends. It is the only taxi service that offers facilities for the kids and senior citizens. There are special discounts for senior citizens willing to hire UBER for travel. In this way, this company is targeting the customers in a professional way. Other industries can take the advantages of these business models with the help of OD TAP solutions.
Follow the UBER trends:
If you are running a business of food delivery, stationary items, pharmacy, garments or sports, there is a need to check the modern business model designing approaches utilized by UBER. Take UBER as a role model in order to design perfect business models. It is no longer difficult to see the future trends and concepts. UBER is going to change the on demand platforms and economy trends in future. That’s why it is considered a successful example by the on demand economy experts. You can follow the business models and approaches implemented by this taxi service.
It would be better to see how UBER business models will change the on demand economy in future. This will give a deep insight or view of the strategies applicable to different industries. For example, the on demand pharmacy services can offer big discounts t senior citizens. Develop business models for high competition in order to keep your company prominent. If you are new to on demand business then using OD TAP business models would be a great opportunity. Try it and get the real solutions today.