There’s an app out there that could be worth over $18.2 billion dollars. And it raised 1.2 billion dollars thanks to venture capitalist. What special magical powers does this app hold?
The $18 billion dollar Uber app flags down taxis. Now how does an app that flags down taxis for you get to be worth more than some entire nations? First off, lack of competition. You could use the Uber app or deal with an dispatcher who may or may not pick up the phone. There is Lyft and Sidecar which basically offer the same service, but that’s about it. This could be a win for drivers as well as customers. Instead of being run around every way by the old system, drivers can use the app to go from customer to customer.
Taxis aren’t just a New York City thing. I think sometimes we take our cabs for granted. Who takes you to and from the airport in a strange city? Who gets you where you want to go when you don’t drive and when the bus/subway just isn’t cutting it? Who takes you home from a night on the town when you can’t (and really shouldn’t) drive back? Uber has a lot of potential. But do you think that potential is worth $18 billion?