Uber Planes?

For Uber (UBER), becoming the ride-hailing apps’ industry leader was just a starting point. The company has since moved into food delivery with UberEats, and now plans to turn its app into a one-stop-shop for people looking to travel across the globe.

Yesterday Uber announced a pilot program that will begin this year in the UK, allowing users to book tickets for planes, trains, and buses, plus rental cars. Unlike the typical ride-hailing service, Uber won’t be directly providing these services, but instead will take a cut from each transaction. Its partners in the venture are expected to be announced in the months ahead.

Train Behind Schedule

One of the new features will include the ability to purchase Eurostar tickets for trains that run between Paris and London via the Channel Tunnel, in addition to other routes. Reports indicate Uber may look to expand the pilot program beyond the UK if the additions are well received. It continues a string of positive headlines from across the pond, as late last month Uber secured a 30-month lease to continue operating in London.

The “superapp” plans have been in development for several years. It was back in 2018 when Uber CEO Dara Khosrowshahi announced his desire to see the app have more transit options. Executives say COVID-19 delayed the process.

Going Further

Uber executives argue the pilot program is likely to boost the usage of its app in the UK, which is one of the company’s largest markets outside of the US. Some of its chief competitors in Britain include Bolt and Free Now. For several years the app’s included bikes, boat services, and scooter rentals, so executives call this a natural next step.

A statement released by the company admitted it hopes to be the go-to place for all of its users’ traveling needs going forward. While the immediate focus is trains, the ability to book flights is also included in Uber’s plans. Hotel reservations are on the horizon, with the company describing the ability to create a “seamless door-to-door travel experience.” For the company whose name is synonymous with digitally booking a ride in an automobile, planes and trains seem like a fitting addition.

Things are changing daily within the financial world. Sign up for the SoFi Daily Newsletter to get the latest news updates in your inbox every weekday.

Sign up

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
SOSS22040703

The post How Uber Plans To Provide All The Transportation Options appeared first on SoFi.