Uber is an app-driven multinational transportation company that put a foundation stone for the platform based travel services. That changed the way how people commute and how travel companies serve their customers. According to a recent report, Uber service is available in 58+ countries and 300+ cities worldwide. Uber is estimated to be worth $62.5B company. Being a role model, Uber has inspired thousands of young entrepreneurs to follow it.
Uber app connects passengers to drivers with vehicle for hire service. Passengers choose the type of vehicle that they want to travel, the place where they want to be picked up from and the place they want to get down. Once the passenger requesting service through app, he will get confirmation of the ride with the details like the driver name, car number and the way which the driver would take him and the expected time to arrive the required destination. At the end of the ride, passenger will receive a mail that contains payment details. The payment can be done via cash or cashless options like wallet and card payment.
Uber drivers are called as individual contractors as they use their own vehicle and smartphone to provide service. In some markets, both vehicle and smartphone are leased for drivers.
Price and seating space may change from time to time. UberXL, UberSelect, UberLUX, and UberTaxi are other taxi types available in different cities.
The development cost of Uber like app depends on following four major parameters:
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