Startups Taking on The Uber Marketplace Around the World

Have you ever wondered what is really happening in the world of Ridesharing? Who is leading, where are they operating and how are they linked? While it seems that everyone is competing for ride and AV supremacy, the facts are much stranger in reality. So, I decided to make a "road-map" of the rideshare marketplace of Uber.

image Didi Chuxing, China

Value: $52 billion

Didi is a monopoly in China and holds the Chinese rideshare market firmly. There are competitors starting to emerge, but possibly a little bit late in the game. Didi is now in Mexico, Brazil, and Japan.

Uber sold Didi their Chinese operations for an 18% stake in Didi, and both companies share a board seat on each other's board. SoftBank invested $10 billion in Didi. Didi is also collaborating with Lyft in the US.

image Ola, India

Value: $3.7 billion

Ola's main market is India, where Uber is seriously investing. Ola has started to take its first step outside the region and is now in Australia, another Uber territory. SoftBank invested $2 billion in Ola.

image Lyft, USA

Value: $11.5 billion

Lyft is Uber's main and only rideshare rival in the USA. Lyft controls around 30% of the US rideshare market. Lyft has also set up sites in Canada.

image Grab, Singapore

Value: $6 billion

Grab has a strong presence all around Southeast Asia, and has sites in Malaysia, Indonesia, Philippines, Thailand, Vietnam and of course Singapore. Didi is invested in Grab, and Uber is considering selling Grab their Southeast Asia operations.

image GoJek, Indonesia

Value: $1.8 billion

GoJeck is a newcomer to the scene, this Indonesian company has grown exponentially since its inception and is involved in e-commerce and e-pay to supplement its rideshare platform.

image Taxify, Estonia

Value: Investments were $2.2 billion

This Estonian based rideshare company is found all over Europe, the Middle East, and Africa. It is in a partnership with Didi.

image Yandex, Russia

Yandex bought out Uber's rideshare market presence in Russia.

image Cabify, Spain

Value: Investments were $450 million

This Spanish rideshare company mainly operates in Spain, Portugal, Brazil, and Argentina.

99, Brazil

This local rideshare company was bought out by Didi and provides them with the majority stake in the Brazillian rideshare market. SoftBank invested $100 million in 99 back in 2017.

image Careem, UAE

Value: Investments of $570 million

Careem operates mainly in the Middle East, North Africa and parts of Asia.

The SoftBank effect, not to confuse two entities with the same name. There is SoftBank Capital that was bought out by Foxconn in 2016; this is the company that invested in Ola and Grab. Then there is SoftBank, which is another entity that has invested in Uber, DoorDash ($535 million this month), Ola, Grab, 99.

As you can see, the rideshare market is not as saturated as it would seem, in fact when you filter out all the really small localized companies, you end up with a list of 11 main contenders. SoftBank is trying to cut up the world into sectors, maximizing the effect of every investment in each sector. They hope that this strategy will rout out the smaller competitors and give SoftBank global control over the rideshare market. Also note that Uber, Didi, Ola, Grab and 99 are all Softbank investments.

1 Like

Its amazing that only a handful of companies succeed in this business. I guess it is all about marketing and deep pockets.

I know of at least 10 small ventures that will surprise us all, and just for your information, you don’t need to be global to make money. if you are content with a local income, then localized rideshare can become the next new niche market. Imagine a “California” or “Arizona” rideshare platform that only employs locals and only serves locals, keep the money in the state. Also, it gives 10% of all its profits to local charities. This, is what I think the future is all about.

The world loves rideshare services it has become regular transportation choice for people to get from one point to another. There is now a whole new bunch of ridesharing and best carpool apps launched changing the way people hail and share taxi rides.