Uber Sticks By New Year’s Pricing Increase

Uber

Getting a cab isn’t always the easiest thing. You have to find the number, and then hope they are able to find you and your apartment. Uber makes it a lot easier. You can call for a ride via a smartphone app (much easier) and they can find your location from your phone. Prices are normally pretty reasonable, but when they jacked up their prices for New Year’s Eve – people got mad.

“If you absolutely need a ride between 1 and 3 a.m., Uber will be very reliable,” Kalanick said in a YouTube video. “But it will be a pricey ride, and you just have to accept that.” The company’s pricing policies can sometimes result in fares that are eight times higher than usual.

While this may be an annoying price spike – people have to realize that the company is paying their drivers time and a half for working on a holiday, and they are taken away from their families.

Uber is available in over 60 markets, from their hometown of San Francisco, to Tokyo.  Revenue is about $200 million a year.

While Uber was launched about 3 1/2 years ago, competitors such as Hailo, Sidecar and Lyft are catching up. Uber has done promotions such as delivering of kittens, ice cream and Christmas trees.

Delivery “can become an extremely complex thing,” said Kerry Rice, a digital media analyst at Needham. “It’s about the scheduling and the software and the ability to manage a fleet.”

What do you think of Uber? Have you used it before?

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About DevonJ140
I am currently an Accounting Director living in New York City. I love reading and learning more about business, finance, tech, and current events.

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