This morning we read news of the massive traffic-blocking protests that have greeted most-expensive-startup-ever Uber as it tries to conquer Europe. VentureBeat just shared the company’s response: ferrying angry London taxi drivers to their own event while adjusting its policies to make nice.
“Riders won’t pay any additional charges, while Uber caps the commission drivers must pay at 5%…Uber says its 5% commission is the lowest in the city.”
So how much is the 12,000-strong protest damaging the company’s business? This headline pretty much says it all:
Probably not the intended result…
[Ed. note and full, first person disclosure: I spent a week in San Francisco in May and I think I can finally say that, if I lived in a city with less-than-ideal transportation options, I would probably use Uber too.]
As for the company’s future and its seemingly insane valuation:
Uber would need 25% of global taxi market. Easy. RT @nytimesbusiness: Why valuing Uber at $18 billion might not be so crazy
— Saved You A Click (@SavedYouAClick) June 11, 2014
So somebody’s doing a great job at investor relations.