Uber created a significant impact on the transportation industry and amazed many entrepreneurs by its innovation and revenues it made every year after its inception. This platform-based business has influenced other taxi owners to transform digitally i.e., by creating their business app. Since creating a brand new app for a startup is a costly affair, many tech solutions and companies have started to develop an Uber-like app for small and medium business. Using white label scripts, these companies created new apps which allowed them to customize and rebrand.
But what you do after you create, leaves a question. Everyone has a plan or strategy to develop a business but to reach the level of your competitor needs extra effort. If you are planning to create an Uber clone app for your new or existing taxi business, you must know the back-end operations of Uber and the financial metrics they follow. With that, you can plan yours.
Uber is going public
Since Uber is about to go public—announcing it will list on the NYSE—it has dropped its initial public offering (IPO) document explaining its revenues and metrics to investors from several quarters. Not to mention, it was a very long document with 285 pages (including digital pages) plus 85 pages of financial statements. For investors who believed in Uber services, there was plenty to like. It disclosed information about its net worth, growth rate, and slowdown rate comparing the quarters.
What does their IPO document reveal?
From the revealed IPO document, you can gain information about how Uber created better cost economics than other taxi business. It also disclosed about “core platform contribution profit,” a hand-picked metric from its two businesses to show the revenues they build. Apart from these, there was a map showing Uber’s market share by country, tips paid to drivers, and metrics of monthly active users. The document nearly had a chunk of information about its revenues along with those that were raised by Uber eats. It also disclosed its investments in the category of driverless car operation.
Just a sneak-peak into the IPO document can give you immense details about the Uber business. It can help you evaluate your business’s financial calculations quickly, and you can certainly invest according to it. Be prepared to start your digital taxi business by learning those insights carefully. Based on their filing, Uber is expecting an $84 billion valuation.
Starting up a ride-hailing business like Uber
