Connect with us

Technology

NEW Global Rideshare Report – First Half 2024: Obi’s Unique Datasets Uncover New Rideshare Trends

Published

4 hours ago

on

NEW YORK, Sept. 23, 2024 /PRNewswire/ — Obi, the global real-time aggregator for rideshares, today released an expanded and updated Global Rideshare Report incorporating additional first half 2024 data. This extensive report provides an unparalleled analysis of the rideshare industry, examining 85 million unique searches and over one billion data points.

The report offers a deep dive into the increasingly complex pricing models used by rideshare companies and market dynamics across major cities worldwide, including New York, London, Paris, and Delhi with unique insights on how to beat surge and weather pricing dynamics.

“This unprecedented report shows how complex pricing models and rideshare data have become,” noted Obi Chief Revenue Officer, Ashwini Anburajan. “We highlight never before seen data sets and trend analysis across the industry. We hope this report will open a few eyes and help consumers as well as companies make smarter decisions. The world of rideshare data has been very opaque historically and this is just the first step in helping to bring greater transparency with Obi’s unique insights.”

The updated Obi Global Rideshare Report – First Half 2024 highlights significant trends and insights across both driver side and rider side, reflecting the industry’s evolution post-pandemic. Combining proprietary data with public sources, the report explores critical topics such as driver pay, price fluctuations, competition amongst providers, and the growth of green rides.

Key takeaways from the new Obi Global Rideshare Report – First Half 2024 include:

Inflation And The Rideshare Price Rollercoaster: In the last four years in the U.S. market, rideshare prices have spiked, dropped and leveled out. An illustration of how prices have increased: a ride on Uber in 2020 that cost $30 would have risen to $35 in 2021 and $37 in 2022. In 2023 prices dropped, and the same ride would have cost users $33. In mid-2024 that same ride is now $31.50. In the period between 2020 and 2022, prices spiked by 23% if you took an Uber and 32% for Lyft. This has now come down and prices are 4.5% higher than they were in 2020 for Uber, while Lyft prices are 8.1% higher. Consumers are paying more per ride in the last three years than in the ten years prior when VC funding fueled growth over profitability. Gas prices, inflation and the push for profitability have all impacted consumers.As consumer prices increase, driver pay drops: We found that drivers earn a smaller percentage of the ride fare than they had pre-pandemic in 2019. Uber pays 10.5% less on average to their drivers. Drivers have gone from earning 72.6% of the ride to 60.7% in the first half of 2024.Rideshare Prices Rose By Over 9% In A 12-Month Period Nationally: Over the 12 month period from July 2023 through June 2024, rideshare prices continue to increase. Uber’s prices increased over this period by 9.75% from $28.18 to $30.93 nationally in the United States. Lyft’s prices also ticked up by 9.8% from $28.17 to $30.93. Consumers continue to travel slightly farther, with average distance for a trip increasing from 11.06 km (6.87 miles) to 11.3 km (7.02 miles)Earnings Per Ride Grows In New York City: Both rideshare companies in the New York City market are making more per ride than they were pre-pandemic. In 2019 Uber’s average earning per fare in NYC was $1.80. It has increased by 250% and is $6.29 in the first half of 2024. In 2019 Lyfts’s average earning per fare in NYC was $4.11. It has increased by 38% and is $5.65 in the first half of 2024.Competition Among Rideshare Providers in London Keeps Prices Low: Unlike New York City, London’s prices have stayed relatively stable over the last several years driven largely by price competition between multiple rideshare companies. It’s 68% more expensive to take a ride in NYC than in London. London riders have more brand loyalty than other cities, with 22% of users choosing their preferred brand even when the price difference is as high as £5.Uber Underestimates Trip Duration. Data shows trip duration has a relatively minor impact on ride selection. However, Uber appears to indicate that the trip will take less time than its competitors in New York City a staggering 85% of the time, estimating that a trip will be between 4 to 5 minutes shorter than other rideshare providers.Weather Drives Surge Pricing Across Cities: Rainy weather is driving surge pricing across cities globally. We see a difference between 6% to 10% depending on the city. Cities like London and New York where rain is a regular occurrence experience the highest surge. Good news for riders in snowy weather, rideshare companies often lower their prices to attract riders.Consumers Need Incentives To Take Green Rides. Uber and Lyft have done an admirable job in increasing the number of green vehicles available to consumers in global cities. However, even though green rides have the same relative wait times and prices, consumers still choose the standard vehicle option if the wait time is as little as 1 minute longer or $1 more in price. 37% of consumers feel that green rides should be cheaper than regular rides. Overall, 10% of rides in New York are green while in Paris and London over 20% of rides selected are green rides. We credit this to European cities enforcing tougher regulations to mandate more green vehicles on the road.Eager for Driverless Cars. 77.5% of rideshare consumers say they are ready to use autonomous vehicles. Safety was the biggest concern of consumers who wouldn’t choose to ride in an autonomous vehicle.

The updated Obi Global Rideshare Report – First Half 2024 is available for download at http://rideobi.com/report2024.

About Obi:

Obi is a global real-time aggregator that compares millions of pricing and pick-up (ETA) data points, providing consumers and businesses with actionable insights. The free Obi app allows riders to compare taxis, black cars, and major rideshare providers instantly. With over 650,000 users, Obi partners with numerous rideshare and taxi providers worldwide to ensure transparency in ride fares. The app is available for free download on iOS and Android.

View original content:https://www.prnewswire.com/news-releases/new-global-rideshare-report—first-half-2024-obis-unique-datasets-uncover-new-rideshare-trends-302254566.html

SOURCE Obi

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

National Center for Charter School Accountability Launches with Analysis of State Charter School Laws

Published

58 mins ago

on

September 23, 2024

By

The National Center for Charter School Accountability provides research and recommendations on increasing transparency and accountability for charter schools.

NEW YORK, Sept. 23, 2024 /PRNewswire/ — The Network for Public Education (NPE) announces a new project, the National Center for Charter School Accountability (NCCSA), to provide research and recommendations on increasing transparency and accountability for charter schools. NPE is the leading organization that advocates revising state charter laws to make charter schools better align with the original vision of charter schools as teacher and parent-led schools of innovation that complement, not compete with, the public school system.

“The charter sector, now saturated with impersonal national chains and for-profit management corporations, has strayed far from the original mission of charter schools. A few states follow that vision; most do not. We regularly receive calls from charter school parents, teachers, and public school advocates raising concerns. The Center will educate the public with facts and provide information on how best to address concerns,” said Carol Burris, the Executive Director of NPE.

The Center includes a searchable database of news stories highlighting problems regarding charter schools. It also provides a portal where parents and taxpayers can submit questions and complaints. It also provides access to nine NPE research reports on charter schools, including reports on charter closures and for-profit-run charter schools.

In addition to research and reports, NCCSA evaluates state laws based on accountability, responsible growth, community input, and protections for students and taxpayers. An interactive map shows the number of open and closed charter schools in each state.

“The Center will grow over time, providing information unavailable on charter trade group sites. One million students have been displaced due to charter closures. In the age of choice, parents and taxpayers deserve the facts,” Burris added.

Commenting on the new project, NPE President Diane Ravitch noted, “NCCSA is a valuable resource for parents, taxpayers, policymakers, and the press who want to be informed about the status of charter schools. Accountability matters, and the Center will provide it via accurate and timely information.”

Access to NCCSA can be found here.

The Network for Public Education is a national advocacy organization with over 350,000 members and 200 grassroots groups. Its mission is to preserve, promote, improve, and strengthen public schools for current and future generations of students.

Contact: Carol Burris
cburris@networkforpubliceducation.org
(646) 678-4477

View original content:https://www.prnewswire.com/news-releases/national-center-for-charter-school-accountability-launches-with-analysis-of-state-charter-school-laws-302256096.html

SOURCE Network for Public Education

Continue Reading

Technology

Vermont State Dental Society, University of Detroit Mercy, Sanders, and Welch Announce Historic Effort to Advance Dental Care and Education Across State

Published

58 mins ago

on

September 23, 2024

By

BURLINGTON, Vt., Sept. 23, 2024 /PRNewswire/ — The Vermont State Dental Society (VSDS), University of Detroit Mercy (UDM), Senator Bernie Sanders, and Senator Peter Welch are partnering to bring an innovative Dental Oral Health Education Center to Vermont in Fall 2027. This new dental clinic and education program would bring UDM students to Vermont to complete their final years of training – strengthening the dental care provider pipeline and expanding access to much-needed care across the state.

At a recent press conference, VSDS, UDM, Sanders, and Welch celebrated the program receiving its accreditation from the Commission of Dental Accreditation (CODA) – an essential step in establishing the teaching program in Vermont.

Sanders and Welch are working to secure $4.6 million in federal funding through the FY25 Congressionally Directed Spending process to support this historic initiative. The funding was recently approved by the Appropriations Committee and needs to be passed by the House and the Senate before being signed into law by President Biden.

The tentative location for the new center will be in Chittenden County.

VSDS, a nonprofit professional healthcare organization whose mission is to improve the oral health of Vermonters and to serve the profession of dentistry in the state, is pioneering the new institution with UDM as it brings more than 90 years of experience in educating dentists worldwide.

Beginning in the fall of 2025, this partnership will include two years of foundational and preclinical education at the UDM School of Dentistry Campus in Detroit, followed by two years of clinical and didactic education at a new dental clinic based in Colchester. The Detroit Mercy-Vermont dental program will offer DDS dental education in the state of Vermont, accredited by the Commission of Dental Accreditation (CODA).

University of Detroit Mercy-Vermont will house modern classrooms with on-site clinics to support its clinical education program and serve as a public health Medicaid clinic to provide dental care to qualifying individuals. Extending its reach beyond its Colchester facility, the new dental program will partner with clinical organizations in Vermont to reach areas with a shortage of dental health professionals and underserved populations.

As Vermont’s professional association for dentists, the VSDS works diligently to enhance the oral healthcare environment in the state. With just under 400 members, VSDS includes more than 80% of the state’s practicing dentists. VSDS provides resources, educational information, and support for its members and the public and advocates for public policies and systems to improve oral healthcare for all Vermonters.

University of Detroit Mercy is Michigan’s largest and most comprehensive independent Catholic university, sponsored by the Sisters of Mercy of the Americas and the Society of Jesus (the Jesuits). For more information, please visit www.udmercy.edu.

View original content:https://www.prnewswire.com/news-releases/vermont-state-dental-society-university-of-detroit-mercy-sanders-and-welch-announce-historic-effort-to-advance-dental-care-and-education-across-state-302256126.html

SOURCE University of Detroit Mercy

Continue Reading

Technology

eBay Announces Samantha Wellington as Senior Vice President, Chief Legal Officer, General Counsel and Secretary

Published

58 mins ago

on

September 23, 2024

By

SAN JOSE, Calif., Sept. 23, 2024 /PRNewswire/ — eBay Inc. (Nasdaq: EBAY), a global commerce leader that connects millions of buyers and sellers around the world, today announced the appointment of Samantha Wellington as Senior Vice President, Chief Legal Officer, General Counsel and Secretary. In this role, Samantha will oversee all global aspects of eBay’s legal department, including Government Relations, intellectual property, employment, litigation, regulatory and corporate work across our financial services, marketplaces, and product and technology organizations. Samantha will report directly to Jamie Iannone, eBay’s Chief Executive Officer, and will join the company on October 7, 2024.

Samantha joins eBay with a distinguished career in legal and business affairs, most recently serving as TriNet’s Executive Vice President of Business Affairs, Chief Legal Officer, and Secretary. In this role, Samantha led a team of professionals across Legal, Compliance, Government Affairs, Customer Service, Sales, Operations, Product Management, Engineering, Technology, and Risk. Her leadership focused on spearheading initiatives that address the evolving workplace dynamics for TriNet’s customers, facilitating capital access for small business owners, and enhancing customer service experiences to support business growth. Prior to TriNet, she spent 12 years at Oracle, where she held a number of senior legal positions.

“Samantha has successfully led multifaceted teams and navigated complex legal and regulatory environments throughout her career,” said Jamie Iannone, Chief Executive Officer, eBay. “Samantha’s expertise will be invaluable as we continue to innovate and grow our global marketplace while ensuring we meet our legal and ethical responsibilities. Her passion for empowering small businesses aligns perfectly with eBay’s purpose, and I’m excited to welcome her to the team.”

“My parents started their business by selling skateboard parts at the open market in Sydney, so I have a deep appreciation for eBay’s role in empowering businesses of all sizes,” said Samantha Wellington. “As a longtime eBay user and collector, I am passionate about helping others unlock similar opportunities and connecting people with what they love.”

Samantha holds Bachelor’s Degrees in Creative Arts and Laws from Wollongong University, as well as a Master of Laws in Communication and Technology Law from the University of New South Wales. She has served as a board member for the National Association of Professional Employer Organizations and BSA, The Software Alliance.

Samantha replaces Marie Oh Huber, who left eBay in June after nine years as General Counsel. 

About eBay
eBay Inc. (Nasdaq: EBAY) is a global commerce leader that connects people and builds communities to create economic opportunity for all. Our technology empowers millions of buyers and sellers in more than 190 markets around the world, providing everyone the opportunity to grow and thrive. Founded in 1995 in San Jose, California, eBay is one of the world’s largest and most vibrant marketplaces for discovering great value and unique selection. In 2023, eBay enabled more than $73 billion of gross merchandise volume. For more information about the company and its global portfolio of online brands, visit www.ebayinc.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/ebay-announces-samantha-wellington-as-senior-vice-president-chief-legal-officer-general-counsel-and-secretary-302256084.html

SOURCE eBay Inc.

Continue Reading

Trending