June 29, 2022
Uber wants all taxis on the platform by 2025

Uber wants all taxis on the platform by 2025

On February 10, the company’s then global mobility manager revealed it Uber wants all taxis on the platform by 2025. In addition, the idea is for taxi drivers to operate in markets where there are strong regulations in the field of transportation through applications. Understand the company statement better!

Read more: Uber competitor in SP promises to pay drivers more than 90% of trips

Uber intends to benefit from the entry of taxis to its platform

Andrew MacDonald, Uber’s director of mobility, has revealed to investors his expectation that there will be a shift in the company’s financial results in the future.

In this sense, it is worth remembering that the company ended 2021 with a loss of 496 million dollars, precisely as a result of the participation of taxis in demand from the middle of last year. At the time, the manager also stated that he recognizes the irony because “Uber is telling you that taxis are the future.”

Also according to MacDonald, users who enter the Uber app to request a taxi ride end up using other services, such as Uber Eats, for example. As a result, the company gets more customers.

Uber hopes it will be 2022

According to the executive’s forecast, the company should operate with positive cash flow by the end of this year. Thus, the company’s chief financial officer, Nelson Chai, estimated that EBITDA would be $5 billion by 2024.

Regarding the movement in the racing segment, the company recently released its financial results, indicating that there is an increase of 67% in this segment during 2021. After this news, the company’s shares rose by 6%, but it has already fallen by 6% and returned to the level before The result.

Analysts expect Uber to establish itself as a financially sustainable company

FactSet analysts had been hoping that Uber would generate EBITDA of about R$5.3 billion by 2024. However, the company’s forecasts left them frightened, and they now hope the platform will weather the loss of revenue and establish itself as a sustainable company. financially.