In this Uber and Lyft webinar, Similarweb and Second Measure shared their insights on the companies while discussing the process leading to their insights.
Here’s a preview video of our webinar:
Here’s what you can expect to hear:
Second Measure’s Insights on Ridership
Second Measure analyzes billions of anonymized purchases to answer real-time questions on consumer behavior. As such, they have insights into the spending habits of US consumers.
According to their data, Uber beats Lyft when it comes to rider engagement. Riders who use both Uber and Lyft typically spend more on rideshare each year than riders who are loyal to a single service. And, on average, these riders who hail cars on both services spend more with Uber than Lyft. In the past year, the average rider of both Uber & Lyft spent $481 with Uber, 58 percent more than was spent on Lyft.
During the webinar, Second Measure’s Data Science Manager Matt Best goes into detail on their data regarding Uber and Lyft’s ridership.
Similarweb’s Insights on Drivers
The ability to attract drivers is critical for the long-term health of ride-hailing companies. However, the number of drivers is not disclosed in SEC filings. In June 2019, Uber launched a massive campaign aimed at attracting drivers.
By comparing the number of downloads for Uber’s driver app before and after the campaign, we see that this campaign increased the average of downloads of Uber’s driver app by 64%, adding hundreds of thousands of downloads every month.
In the webinar, Similarweb’s Director of the Investors Solution Ed Lavery reveals the full impact of this campaign, not only on the number of downloads but on a myriad of metrics including driver retention, the time drivers spend on each driving application, and more.
Our Combined Insights – The Main Event
Using two alternative data sets creates a unique situation where 1+1=3. While insights from both data sets are valuable on their own, the ability to combine them creates a whole new world of insights.
By using insights from both data sets, our experts were able to decrypt Uber’s pricing model, which allows us a deeper look at the very core of the company’s business. Using our data sets as one reveals how imbalances in supply and demand of riders and drivers impact pricing, and we discussed our original model at length during the webinar.
Similarweb and Second Measure are proud to present a webinar that pushes the boundaries and redefines what can be done with multiple data sets.
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