- December 12, 2021
- Posted by: Robert Brown
- Category: Investing
It wasn’t that long ago that UBER came on the scene. Now just ten years later they are looking at a possible 120 billion valuation as an IPO. LYFT another Rideshare company started in 2012 now seven years later is valuated at 15.1 billion.
Rideshare companies like Uber and LYFT were borne out of the technological boom that we have all witness in the last 10 years. Companies like Groupon and Airbnb have all become the benefactors of a new era of growth never seen before.
Rideshare started because of a company (UberCab) in San Francisco came up with an app that could hail a ride using a Smartphone, the rest is history.
Innovation, cutting edge technology, recognizing a need in the market place and seasoned leadership all play a part in creating a successful company.
The question is, can these new innovative companies that have been so successful evolve once again. The answer is obviously yes.
Horse-drawn for-hire hackney carriage services began operating in both Paris and London in the early 17th century. Proof that there is always room for new disruptive innovators.
How can the Rideshare industry re-invent itself?
Where one industry failed to meet the demands of a growing market share another stands ready to take its place. The secret of course is recognizing and understanding the failings of companies like Uber and LYFT and filling that gap.
Where are these possible gaps?
By listening to the complaints of drivers and riders alike opens new opportunities for innovation.
Rider Safety Concerns
Surprising Surge Charges
Unable to travel with small children – Uber and LYFT do not provide child car seats.
Unable to request a driver they like.
Need a better pay structure for drivers. Pays the bills but that is all.
Inconsistent, good as a temporary job but nothing in it for the long term employee.
Unable to create their own book of business to create more consistency.
Disrupting the Disrupters
One such company by the name of TRYP Technologies, Inc. has identified many of these gaps and looks to be on the forefront of becoming a disrupter to the Rideshare industry. Their model not only creates more independence for drivers but answers many of the concerns riders have as well. TRYP Technologies, Inc. is based in Las Vegas, Nevada and promises to become a major disrupter to the rideshare market starting in 2019.
For TRYP Riders they have addressed
- Safety concerns that allows rider with one click to have the home office listen in and act accordingly.
- Secondly, there are no surge charges which has always been a common complaint.
- They promise to be one to two percent less than their competitors
- They have addressed the concerns of parents with small children with car seat availability.
- They can also request the driver of their choice.
- Referral program which earn points that can be turned into cash.
As for TRYP Drivers they can
- Earn 100% of the fare and tip and can get paid from the app instantly.
- Drivers pay a monthly software subscription fee of $199.
- Driver app includes safety features when clicked will allow the home office to listen in and act accordingly.
- Build their own book of business which allows riders to request them.
- Referral program which earn every time a referred driver picks up a rider.
- Stock options
Tryp’s technology is designed to provide fast, effective, and affordable on-demand transportation with total peace of mind during the entire ride. Their claim to keep a close eye on the safety of all of their users at every point during the Tryp ride makes them a disrupter to the rideshare industry.
If you are interesting in becoming a driver, take a look at their driver program at: www.Fastzap.net/tryp
Article written by Scott Johnson an independent consultant for TRYP Technologies.