Uber now owns 74.3% of the US ride-hailing market
This year has been a dreadful one for ride-hailing company Uber. The company has been grappling with workplace culture issues, sexual harassment, and allegedly stealing Alphabet’s (GOOG) trade secrets, among other challenges.
These issues have likely affected its US market share, as the graph above shows. The #DeleteUber social media campaign brought its market share down from 81% to 76% during a single week in January, according to Second Measure, and Uber’s market share in the country dropped from 91% to 74.3% in August 2017. Uber’s rival Lyft has largely benefited from this, as its US market share rose to 23.4% from below 8% that month. The two companies still make up close to 98% of the total US ride-hailing market.
New CEO has his work cut out for him
Lyft now operates in 40 states, the company announced last week, while Uber is present in ~250 cities in the country. The former’s prices and work culture may have also boosted its market share.
New Uber CEO and former Expedia CEO Dara Khosrowshahi has a reputation for making changes. At Expedia (EXPE), women make up 52% of the total workforce, compared with Uber’s 36%. Similar changes at Uber may help soothe investors.