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What Is Uber's Ride-For-Hire Industry?

606 Words3 Pages

I am writing this Memo in response to some negative news and publications about our company, Uber. Some reports showed that our business is facing the crucial challenges from governments, incumbents and competitors due to our aggressive strategy. Moreover, some customers are also asking about our pricing strategy during the high demand. This situation seems to put our company into the bad reputations and could jeopardized our future. From the perspective of Investors, this situation could discourage us to invest and support the company.
On the other hand, the ride-for-hire industry in the U.S. grew at about 2.7% per year from 2010-2015. The market revenues for this industry is also showing a positive trend. In 2014 the ride-for-hire industry revenues was estimated $12bn, with Limousine Service’s revenue accounted for $5.9 bn and Taxicabs’ revenues accounted for $6.5 bn. Moreover, the demand for our services, either from drivers or customers, is very promising. According to ‘The Nation’ survey of millennials on January 2015, 51% the millennials generation also have considered Uber as their choice of transportation. …show more content…

We can see from the report “An Analysis of the labor market for Uber’s Driver-Partners in United States, that the growth of the new UberBLACK and UberX driver were very high. The report also provided the New U.S. Uber Drivers Starting Each Month trend, which is grew significantly during the period of July 2012 to Jan 2015.
All these facts showed that the future of the industry is still promising, and we can utilize this opportunity by changing our approach or tactics to

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