Uber

When would Zeroes occur?

1) You're trying to call during an off hour, like 5am. 2) All cars are currently moving passengers: during rush-hour or weekend nights. 3) No available cars are available at that exact point in time. 4) Uber is not available in the current city yet.

How does Uber divide the % of the fare?

80% to the driver, 20% to Uber

Dispatch definition:

A request for a car, made by a potential passenger from the app.

pETA definition:

Predicted estimated time of arrival. pETA shows the estimated (by an algorithm) value of the ETA

How is Supply measured?

Supply is measured via Drivers or Driver Partners.

Eyeballs definition:

The # of customers who launch open the Uber app looking for vehicles. A good measure of demand.

Requests definition:

The # of customers who make requests for an Uber car. A good measure of Demand.

Driver Supply definition:

The # of unoccupied drivers on the road - online and available to go.

Completion Rate definition:

The % of requests to the completed trips.

Supply hours

number of hours a driver is available within a given time frame

Time on Trip

the amount of time a driver spends on trips within a given time frame

aETA definition:

Actual ETA. aETA value shoes the actual value of the time of arrival of the car.

Fare definition:

Amount paid by the passenger.

What is the value behind UberPool

Customers get to share the cost of UberX rides with riders traveling in a similar direction (guaranteed cheapest option). Drivers are constantly serving riders and adding new riders to a queue, making more money and offering faster pickup times (the "perpetual ride"). UberPOOL has the potential to fundamentally change how cities operate, as it can supplement, replace, or function as public transit systems.

Zeroes definition:

Customers who open the app and see no Uber cars in the area Zeroes represent lost revenue.

How is Demand measured?

Demand is measured via Riders/Passengers.

What are the effects of Surge Pricing?

During Surge Pricing, the # of app openings increase a lot. Rides are allocated to those that value them most. While the # of app openings increases dramatically, the # of actual requests doesn't increase by as much as riders choose not to pay the higher surge charge. Most of the increase in prices is passed onto the drivers, who benefited from the increased demand. Completion Rate doesn't change. Wait times/ETA do not increase.

What is Surge Pricing?

It brings supply and demand back into equilibrium. The algorithm assigns a multiplier that multiplies the standard fare in order to derive the "surged" fare. Raises supply of drivers (incentivized) Lowers demand (only those willing to pay will request)

Who are Uber's most notable competitors, both domestically and internationally?

Lyft, Didi, Grab, Curb, and Ola

Idle Time definition:

The amount of time a driver has to wait between trips.

On-Demand Economy definition:

The economic activity created by tech companies that fufill consumer demand via the immediate supply of goods and services. Uber is a pioneer of the concept.

What happens when Demand is high and NO surge kicks in?

The gap b/w supply and demand becomes very large. The entire marketplace fails from an economic perspective. 1) Requests go up dramatically then drop dramatically 2) ETAs increase dramatically 3) Completion rates decrease dramatically

Driver definition:

The rideshare partner, driving the car.

ETA/Wait Time definition:

The time a customer has to wait to be picked up by a driver.

Working Shift/Work Day definition:

The work shift for a driver. Usually 8-10 hours.

Utilization

Time on Trip/Supply Hours Measures the effectiveness of the market place

Uber for Events

Uber Events (purchase ride passes for event attendees which act as credit towards trips to the event) Vouchers (distribute Uber vouchers for attendees through the Uber for Business app)

Uber Everything

Uber rush (parcel delivery) Uber eats

Uber Ride Products

UberX (affordable standard) Uber Comfort (newer cars with extra leg room) Uber Pool (shared rides with option to walk) UberXL (affordable for up to 6 people) Black (luxury rides with professional drivers) Black SUV (luxury rides with professional drivers for 6) Select (premium rides in high end cars) Assist (special assistance from certified drivers) WAV (wheelchair accessible vehicle)

Competed Trip definition:

When a customer is picked up and dropped off successfully.

Total products

amount of products that are available for delivery during a specific time frame

Uber for Business

company account that attaches expense codes and memos to trips