I never thought about this. But Tesla is clearly building a ride hailing app that is competitor to Uber. It announced it at earnings call.
Tech stack of a ride hailing app is easy/Okay level of difficulty to create. But operations is tricky to get right. Takes some effort to get the operations right.
Would be interesting to see TSLA quickly build this service with test pilot drivers. Was a part of an early project within FREE NOW (Uber of Europe) and DAIMLER for autonomous. Working for a ride hailing is an interesting experience.
Here is some data I compiled.
Public Ride-Hailing Companies (as of April 2024):
- Uber Technologies, Inc. (NYSE: UBER) - Market Cap: $147 billion
- Lyft, Inc. (NASDAQ: LYFT) - Market Cap: $6 billion
- Grab Holdings Limited (NASDAQ: GRAB) - Market Cap: $13B billion
- Didi Global Inc. (NYSE: DIDI) - Market Cap: $25.2 billion
Total Market Cap of Public Ride-Hailing Companies: $192 billionPrivate Ride-Hailing Companies (last known valuations as of August 2023):
- Ola Cabs (India) - Last Known Valuation: $7.3 billion
- Gojek (Indonesia) - Last Known Valuation: $10 billion
- Bolt (Estonia) - Last Known Valuation: $4.75 billion
- inDriver (USA) - Last Known Valuation: $1.23 billion
- Cabify (Spain) - Last Known Valuation: $1.4 billion
6. FREE NOW (Europe) - Last Known Valuation ±$1 billion
Total Ride Hailing Market Cap ±220 B.
The important question is, What percentage of Ride Hailing valuation could Tesla capture soon?