Uber: Rising Valuations Amidst Ethical Woes
However, the global taxi business would grow much faster than this rate as there were many underserved cities mainly in Latin America and Asia. It was estimated that the overall market would touch US$183 billion by 2024.
Uber was the first player in the mobile app-based transportation network. But, others were quick to jump on to the bandwagon as the entry barriers were low. Some of the most notable players were Curd , Didi Dache , Flywheel , GrabTaxi , Hailo , Haxi , Kuaidi Dache , LeCab , Lyft , Line Taxi , Olacabs , and Sidecar . These companies had a common model built around mobile apps. However, Uber was the clear leader as it was the first mover and had deep pockets thanks to its robust funding