Uber Takes Majority of Ground Transport Market for U.S. Business Travelers
The Uber Technologies Inc. application is used for navigation on a smartphone during an Uber ride in Washington, D.C., U.S., on Wednesday, Aug. 31, 2016. In the first quarter of this year, Uber lost about $520 million before interest, taxes, depreciation and amortization, according to people familiar with the matter. In the second quarter the losses significantly exceeded $750 million.
Photographer: Andrew Harrer/BloombergWhen Uber is winning, taxis aren’t the only ones losing. The ride-hailing startup increased its popularity among business travelers last year while use of rental cars and other traditional ground transportation options declined, according to Certify, the second-largest travel and expense management software provider in North America.
Uber Technologies Inc. accounted for 52 percent of total ground transportation transactions through Certify’s system last quarter, amassing a majority of the market for the first time. Uber first overtook rental cars by transactions a year earlier, though rental car bookings accounted for significantly more revenue.