This is going on for a few weeks, and recently, this has re-surfaced once more. According to MarketScreener, Uber is evolving into this “everything app” with expanding margins.
In business and finance, expanding margins means that a company is adding its profit margins over time, enabling them to generate more profits from each dollar of revenue. It indicates that the business is becoming ever more efficient, growing its net, otherwise operating profits quicker than its overall sale. Here’s the scoop.
Everything app vs. super-app
This time that the story of Uber moving towards becoming the everything app is on once again, is it similar to a super-app? First and foremost, it is interesting to note that Uber isn’t yet an everything app, considering that it’s the world’s number one ridesharing app.
Google defines everything apps as those that refer to a multi-purpose mobile or desktop app that combines a vast range of daily digital offers into a single platform.
Some of today’s most popular everything apps are Chinese instant messaging platform WeChat, India’s Paytm, and digital payments network Alipay.
There are lots of schools of thought regarding everything apps and super-apps. Some are saying that they are the same, while others offer another definition for the latter.
On the other hand, super-apps are all-in-one platforms combining multiple digital services like messaging, banking, shopping, and transportation into a single application.
For Middle East, it’s Careem. For China, it’s Meituan, and for Korea, it’s Naver.
They eliminate the need to download and juggle dozens of separate single-purpose apps, offering a seamless user experience in a singular ecosystem. Who would want to transfer from an app to another from time to time?
Uber as your brand-new everything app?
In April, SFGATE stated that Uber is expanding into becoming an everything app, particularly exploring the travel and leisure industry, specifically hotels.
Things that are official is that the ridesharing and delivery company then allowed users since to book hotel rooms.
Uber is using hotel listings from Expedia – which has also become a hotbed for credit card frauds and scams – a booking service connected with tens and thousands of hotels and other properties around the world. And, more hotels from Vrbo will also be reportedly added into Uber.
It makes sense because Uber is a ride-hailing app, used by travelers, too.
Uber’s chief product officer, Sachin Kansal, stated this is towards being an everything app.
“Consumers are spending too much time coordinating their lives, using multiple apps. AI is in the air, and they’re all trying to figure out, how does AI help me or does it not help me?” Kansal told RSF. “Our goal with these announcements is to bring everything into one app, to help them save time, and to also help them save money.”
The Uber strategy to becoming the everything app
Well, it is also previously reported that Uber already has a “strategy” to reach the everything-app status.
CNBC chatted with Andrew Macdonald, the chief operating officer of Uber, and told them this is not a subsidy game, but rewarding members, yet it is interesting to note whether this move to include hotels in its booking platform is going towards it becoming the everything app that people in Uber markets would need.
What’s your take? Let’s keep the ridesharing conversation going by signing up for your account on RSF. Thank you for reading!