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apple developer enterprise account for rent(buyappleacc.com):Is the ride-hailing business sustainable?

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CONSIDER the following facts – the top-five ride-hailing companies have a combined valuation of close to US$183.5bil (RM770.1bil), having raised US$83bil (RM348.6bil) from both private and public offerings over the years, but to-date, are all loss-making with cumulative losses in excess of US$50bil (RM210bil).

Globally, one of the most sought-after business models within the start-up space has been the ride-hailing business.

From New York to Sydney and from Tokyo to Singapore, the ride-hailing business has been well sought after by private equity investors and over the last few years, some of these start-ups have even migrated to being full-fledged public companies. Names like Uber and Grab have even become household names, as our lives transformed from the old to the new economic model.CLICK TO ENLARGE

According to data compiled by businessofapps.com, the global funding for these ride-hailing companies between 2015 and 2020 hit US$72bil (RM302.4bil), with the peak in fundraising taking place in 2017 when some US$18.1bil (RM76.2bil) was raised. The table on ride-hailing companies summarises today’s top-five ride-hailing companies and their respective valuation, the amount of funds that have been raised, and their respective accumulated losses to-date.

Uber, DiDi Chuxing (DiDi) and Lyft’s valuations are based on the latest market prices, as these companies are all listed. Grab is valued by its SPAC merger deal, while Go-Jek is valued based on its recent merger with Tokopedia.

Among all of them, DiDi, which was listed at the end of June, is the latest to be listed in the market, when it raised US$4.4bil (RM18.5bil) via an initial public offering (IPO) in the United States.

That IPO valued the Chinese-based company close to US$70bil (RM294bil). However, since its IPO, its share price has almost halved on regulatory concerns as China has placed the company under a cyber-security review after it failed to comply with regulators’ demand to undertake a network security assessment.

The business model of ride-hailing companies has evolved over time, and as we are aware, some of them today are not just pure taxi services in the traditional sense but have ventured into other businesses, taking advantage of their data superiority, as well as their capability to provide last-mile connectivity.CLICK TO ENLARGE

Today, ride-hailing companies provide services like food delivery services, financial services like insurance products, personal loans, unit trust products, e-wallet services; and consumer-related services like grocery shopping, on-demand courier services, on-demand car cleaning services, and even on-demand bill payment services.

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