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Uber Sets Valuation Record of $17B in New Funding

bloomberg.com

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Re: Uber Sets Valuation Record of $17B in New Funding

#141

Post by oh_sigh »

untog wrote: post #23
austenallred wrote: post #4

The "this valuation is crazy" and "this proves a bubble" comments are filling up my Twitter feed and HN, but I couldn't disagree more. Call me crazy, but I think this valuation is completely fair. For a few reasons: Uber has serious revenue. They do more trips in San Francisco than taxis do. This isn't a pie-in-the-sky "there will be money there, I'm sure of it" thing. They bring in billions, and they're starting to…

They will be successful in San Francisco, of that I have no doubt. From what I understand the taxi market there is horribly broken, Uber saw a gap in the market and leapt at it. The mistake, IMO, is assuming that they will be able to replicate that in other cities. In NYC you can get a taxi 90% of the time by holding your hand up in a street corner. At peak times that's more difficult, but that's also when Uber has s…

No, you cannot get a taxi 90% of the time in NYC.

If you are in select parts of manhattan below 150th st, you can get a taxi very easily.

If you're in any of the other boroughs, you usually can't count on being able to hail a taxi unless you live on a main route to one of the manhattan bridges.

Re: Uber Sets Valuation Record of $17B in New Funding

#142

Post by oh_sigh »

arjunnarayan wrote: post #95
uptown wrote: post #86

Earlier quoted context omitted.

"Yes, Uber is cheaper - until it isn't" Case in point: https://twitter.com/newyorkcityliz/status/470010209403150336 Edit: Fixed my idiom. Thanks dragonwriter.

Friday night, 9pm.

Yeah, taking uber then would be stupid. There are plenty of yellow cabs within a few minutes walk from the starting location of that trip, and the trip itself would cost about $25 with a tip.

Re: Uber Sets Valuation Record of $17B in New Funding

#143

Post by badusername »

xbeta wrote: post #133
rxaxm wrote: post #96

Earlier quoted context omitted.

there are a lot of rich people without cars (a lot of manhattan). i know tons of people who hate cabs and can't really justify a full-time driver--these people take a lot of ubers. also, cabs can only take 4 people at a time. the ability to call a large car when going out has a made a huge difference.

I would like to know how 'many' people are in this pool, and $ per user for Uber.

I know several people in the SF Area that take Uber almost everyday, multiple trips. It's not unreasonable to think that $/user in such cases is a few thousands.

Re: Uber Sets Valuation Record of $17B in New Funding

#144

Post by davidu »

untog wrote: post #117
davidu wrote: post #85

Earlier quoted context omitted.

The average wait time in NYC is between 5 and 9 minutes depending on time of day. But many people would say it feels worse than that at peak times (and it likely is). People finding cabs on 5th avenue at 6pm know there are no cabs to be had. You can't just raise your hand. It could take 15 to 20 minutes to find a cab. So suggesting that you can get a cab 90% in NYC is a statement of fact, but it's not actually true.…

Right, so Uber is a premium product. It has surge pricing, if you want to ride at peak, you pay. That's fine. But it means that it isn't going to dislodge yellow cabs any time soon because the price point is entirely different.

You need to spend more time understanding Uber. If you do that, you'll already know this statement is wrong.

Re: Uber Sets Valuation Record of $17B in New Funding

#145

Post by davidu »

skizm wrote: post #119
davidu wrote: post #85

Earlier quoted context omitted.

The average wait time in NYC is between 5 and 9 minutes depending on time of day. But many people would say it feels worse than that at peak times (and it likely is). People finding cabs on 5th avenue at 6pm know there are no cabs to be had. You can't just raise your hand. It could take 15 to 20 minutes to find a cab. So suggesting that you can get a cab 90% in NYC is a statement of fact, but it's not actually true.…

> So suggesting that you can get a cab 90% in NYC is a statement of fact, but it's not actually true. I would have to disagree. I work near the Empire State building and have taken cabs home after work (6pm) plenty of times and have never had to wait more than two red lights to get a cab (lights going N/S take about 45s so that's around 2-3 minutes). The times you have to worry about is Friday/Saturday night if it is…

Your singular datapoint (which I would still question) doesn't change the facts in that report.

Re: Uber Sets Valuation Record of $17B in New Funding

#146

Post by richcollins »

thibautx wrote: post #118
richcollins wrote: post #106

I wonder if a decentralized version of Uber could outcompete it.

What do you mean by decentralized? Something more along the lines of Lyft?

No I meant that there would be no central system connecting drivers and riders. They would connect directly, as if all buyers and sellers met at a predetermined location to match each other.
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