How to become "essential infrastructure" like Uber

Uber works hard to go to market in a “very local way” because it believes it offers are “essential infrastructure in a city”

Uber's global presence now spans across more than 70 countries and encompasses over 10,000 cities, marking an astounding level of growth. This remarkable expansion is attributed to Uber's adept localization strategy, which enables the company to seamlessly tailor its services to the specific needs of each market.

Key takeaways

• Uber's winning strategy revolves around diversification in various markets and a deep, completely unique, and highly customized understanding of the preferences of consumers in those markets.
• Despite a well-documented period of challenges, Uber is now generating substantial value. The first-quarter results, announced in May 2023, reveal a remarkable 29% increase in revenue, totaling $8.82 billion. This growth is underpinned by a 72% surge in ride-hailing services and a 23% expansion in food delivery.
• Much of this enhanced performance can be attributed to Uber's revamped focus on "consumer obsession."

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