The Ledger
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Uber built its initial Atlanta driver supply by cold-calling Yelp listings
“When we went into the initial market, we got a Yelp list of all the drivers in the city and sort of like called through and trying to get them to sign up with Uber and, you know, got our initial list of drivers that way and launched a few weeks later with some…”
Uber manually onboarded its first million drivers without major digital ad spend
“For probably the first million drivers that we onboarded, a lot of our processes were manual, right? So we weren't doing a lot of like paid spend on Facebook. We were doing a little bit on Craigslist. We weren't doing a ton on Google, but it was really the ope…”
Good annual driver retention for early Uber was 25% to 30%
“I would say, if you started the year with a hundred drivers, I think you would probably have 25 or 30 of them left at the end of the year. That would be good, right?”
Uber initially let Lyft launch first to absorb local regulatory risk
“And what a lot of people don't know about Lyft is when we started launching UberX, we let Lyft go first, and we had a policy that said, hey, if Lyft launches in a city, we are going to wait 30 days to see if the law enforcement comes after them, and then we're…”
Uber is the top global food platform but lost US to DoorDash
“Uber's the number one food delivery platform in the world, but I think we really fumbled the bag in the US with DoorDash. I think we missed out on a huge opportunity.”
Uber's advertising business has reached a $1 billion run rate
“I think the ads business is a monster. I think ads is really interesting because it's, I think, in a billion dollar run rate now, and what's really interesting is if you think about Uber as a platform, It's the app where you go from, like, point A to point B. …”
Uber paid early city drivers $20-$30 per hour in guaranteed subsidies
“In the early days, we paid a driver 20 or 30 dollars an hour to sit there, right? And you know, this lasted probably 60 or 90 days into a market launch, and then after, you know, it became clear that the driver was making 20, more than 20 or 30 dollars an hour…”
Uber's unit economics worsened in 2014 due to intense market competition
“Even though we were in 2014 and the business was five years along, like, the unit economics as we launched Hooper X and had more competitors actually got worse over time because you started spending so much money to acquire drivers, to acquire riders”
Uber deployed permanent local teams while Lyft used central launch teams
“I think the big differentiation in Uber versus Lyft is that we had on the ground teams in every market. And, you know, we had an Atlanta city team, we had a Philadelphia team, we had a Chicago team and Lyft operated completely out of San Francisco. So while th…”
Austin regulations enforced a $55 minimum fare and 30-minute wait time
“If you ordered a black car in Austin, The minimum fare, whether you're going a block or a mile, was 55 dollars, and if you ordered a car and it showed up in one minute, you had to legally stare at it for another 29 minutes before being allowed to get in.”