Sunday, June 30, 2019

Uber's Real London Threat Is Ola, Not Bolt, Says Morgan Stanley

Daimler AG-backed Bolt, formerly known as Taxify, just re-entered the UK market two years after its operating license was revoked

Even though Bolt has raised around $190 million to $280 million in funding so far, Morgan Stanley analysts say that Ola remains the main potential threat to Uber Technologies Inc.'s dominance in the London ride-sharing market, despite this month's return of the rival Bolt service to the UK capital,

Ola, owned by ANI Technologies Pvt, has said it will take on Uber in London before the end of the year, while Daimler AG-backed Bolt, formerly known as Taxify, just re-entered the UK market two years after its operating license was revoked for not being fit and proper company and operating without a licence. 
Amazing what a company like this can achieve with TfL once they’ve raised a few bob. 

In the two weeks since Bolt resumed London operations, evidence suggests it is not having a material impact on Uber, according to Morgan Stanley analysts led by Brian Nowak. 

Uber's share of app downloads fell a little after Bolt entered, but has since recovered, they wrote in a report.

The greater threat is likely to come from Ola, the analysts say. If reports are accurate, Bolt has only raised around $190 million to $280 million in funding so far, small fry compared with the $3.8 billion Ola is said to have racked up, according to Morgan Stanley. TfL bosses must be frothing at the thought! 

"We believe Ola is arguably a greater threat if media reports of Ola's entry into London at the end of the year prove accurate," the analysts said.

Morgan Stanley remains bullish on Uber as the strong growth rates it continues to achieve demonstrate the potential for faster ride bookings and more revenue growth through the course of 2019. 


Hugh Bar said...

It's evident that our demise is caused by technology. If UBER disappears then another app takes its place. Possibly now private hire journeys shall become even cheaper with price wars between different app providers.

Anonymous said...

And yet we still only have one vehicle to choose from Game over

Anonymous said...

Wake up & smell the skinny latte, everybody! Basically, the authorities will never ban these incompetent & dangerous forms of transport.
The truth is that there’s too much money floating about, to do the right thing & put the public first. These multinationals & investment companies will not be prepared to let anyone stand in their way & their ultimate aim is domination of the hire market. The people who do have the power to stop this, are also disinterested in assisting matters & this is for a multitude of reasons. (I am sure you all have your own favourite reason; if not write them all down & stick a pin in to make a choice!)

Also, not directly connected but an insight to how much the authorities are inept & London has now descended into a state of lawlessness.

I would like to ask if anybody saw the incident on the embankment on Friday (28/06/19) at approximately 21.00. There were around 350/400 cyclists (possibly more) who drove along Northumberland Avenue & blocked all traffic at the junction with the embankment.
The cyclists were an rowdy mixed bunch, with many under 25. They physically stopped all traffic & several acted in a threatening way towards drivers who wished to lawfully proceed. They blocked the junction for a considerable time & until all cyclists had turned left onto the embankment. They then all stayed in the road & out of the cycle lane, holding up traffic all the way to Southwark Bridge junction.
At this point, they again aggressively blocked traffic from all routes, until they had all turned right over the bridge. And what did the authorities do (who could surely see this on traffic cameras), well to the best of my knowledge..... sweet FA!
Unless a miracle occurred on the south bank & they were all apprehended, which I seriously doubt!
The point I am making here, is that I cannot imagine the same scenario, if vehicular traffic & drivers did the same. Why is this & what a sorry state of affairs! There’s an old saying...... ‘the lunatics are in charge of the asylum’ and never has this been more true, than now!

Anonymous said...

dear 12.45 just shows what a 3rd rate police farce,sorry,freudian slip force we,ve got,the bottleless bobbies of london town.

Anonymous said...

I,m a keen cyclist, cycle 20 miles every day, sometimes more, and i would welcome all cyclists having to have insurance, a cycle helmet, and a number on the back of the cycle, over the back wheel, so we could be traced in the event of an accident, also i would welcome paying some road tax, if it was going towards repairing the roads, potholes are a joke, maybe £100 to start, increasing with inflation! The amount of cyclists i see running red lights, not stopping at crossings and not having the correct lighting on their cycle is scary, if any lighting at all! Come on mayor khan or Boris if you get elected, make it law, cyclists need insurance, cycle mot"s and reg numbers, its only fair and i"m a cyclist! I"m also a pedestrian and have been hit by a cyclist on numerous occasions, some of my fellow cyclists are a danger to themselves and indeed other people, this madness has to stop!

Anonymous said...

Anon 2.26: to be fair, were they actually informed by anybody about this incident, ie authorities?

Anonymous said...

All of these companies require long term recognition on the "Taxi" platform and not as secondary private hire existence, Let's see if we use our established position to our advantage regardless of the competition and its plans because the scandals that haunt private hire are a real obstacle and the low quality of its drivers are always going to be its Achilles heel remember that.