Didn't PG say that mean people fail?
Uber Confirms New $1.2B Funding Round, Looks to Asia for Expansion
91–95 of 95 posts
Re: Uber Confirms New $1.2B Funding Round, Looks to Asia for Expansion
#92Earlier quoted context omitted.
> why is the cost the same as a taxi paying that expense Uber is trying to maximize their revenue
Why would they do that? They have competition, even if it doesn't seem so obvious right now, and a larger percentage of nyc's cab market share seems much more valuable. Especially if it's so easy for them to raise money.
Can you really not think of reasons why they'd want to maximize revenue? Here are a few thoughts, off the top of my head:
* room to drop prices at the right moment, when it would most affect competitors
* more money in the bank means less pressure to raise money (before today; I'd guess this is the last big round they do). Less pressure means they can wait until they get a better deal for current stakeholders
* they don't think price is the determining factor for market share. I'm seeing Uber and Lyft mutually differentiate corporate personality to avoid being commoditized for each other
* people tend to judge safety / quality by price -- if they were 50% cheaper, people might be sketched out
* maximizing revenue also maximizes money in their driver's pockets -- they need high quality, reliable drivers, and thus need to pay them decent wages.
Those are just a few reasons why they would maximize revenue pre-VC money.
Re: Uber Confirms New $1.2B Funding Round, Looks to Asia for Expansion
#93Earlier quoted context omitted.
Uber is already on track for $1b in revenue * *gross revenue. Big difference.
Actually on track for $10b gross and $2b net.
I can only find one source[0] and it's source is quoted as "is what I'm hearing" for an estimate at the end of the FY2015 (13 months from now). That's pretty bold stance without any real confirmation.
Re: Uber Confirms New $1.2B Funding Round, Looks to Asia for Expansion
#94Earlier quoted context omitted.
Actually on track for $10b gross and $2b net.
I can only find one source[0] and it's source is quoted as "is what I'm hearing" for an estimate at the end of the FY2015 (13 months from now). That's pretty bold stance without any real confirmation. [0] - http://www.businessinsider.com/ubers-revenue-2014-11
Either way, the $1b is net, not gross.
Re: Uber Confirms New $1.2B Funding Round, Looks to Asia for Expansion
#95Earlier quoted context omitted.
Forgive my terribly silly question then. If Uber is skirting the regulatory cost of a medallion for each vehicle in service, why is the cost the same as a taxi paying that expense?
Uber take quite a big cut don't they? It's why I find it hard to helieve they can out-compete in cities where there's already an open market (medallions seem to be a weird US thing?)
Nop, they are common in Europe too. Although most european countries have severily limited the operation of Uber, so...