Real Estate and Construction

Welcome To The ‘Uber for X’ Era (2009-2015)

Sudeshna Dutta

4th Oct'20

 In the early 2010s, a wave of on-demand marketplaces for easy services arose, inclusive of transportation, meal delivery, and valet parking. These marketplaces have been enabled by using full-size cellular adoption, making it viable to e-book a carrier or receive a job with the faucet of a button.

 

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Welcome to the Software Era

 

Companies like Handy, Lugg, Lyft, Rinse, Uber, and many others made their environment friendly to connect with service providers in real-time. They created a full-stack journey around a specific service, optimizing for liquidity in one category. For these transactions, great and success have been extra or much less binary — both the carrier was once fulfilled or it wasn’t — making them conducive to an on-demand model.

 

These structures took on a variety of features to set up an end-to-end, seamless person experience: routinely matching supply and demand, increasing prices, managing transactions. They additionally frequently commoditized the underlying carrier company (for instance, the giant variance on the driver facet of rideshare marketplaces is distilled into Uber X, Uber Pool, Uber Black, Uber XL, etc.).

 

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What Happened to the Uber-for-X Companies

A model for dozens of venture-funded companies. So the Uber-for-X companies followed footsteps of Uber, which has raised more than $24 billion in private markets. Read more.

 

Software is Eating the Real Estate Services World Next

Real estate technology is entering it’s next era very quickly. And there are new companies already hard at work upending the model. Full-stack services are the next frontier for real estate technology. Read more.

 

Unlike the preceding generations of marketplaces, in which the company, in the end, owns the cease client relationship, these on-demand marketplaces grew to be thinking of as the provider, e.g. “I ordered food from DoorDash” or “Let’s Uber there,” alternatively than the underlying man or woman or commercial enterprise that clearly rendered the service.

 

Over time, many startups in this class failed, and the ones that survived did so by means of focusing on and nailing an accepted use case, providing compelling cost propositions to demand and grant (potentially getting rid of the on-demand component, which wasn’t treasured for some services), and inserting in vicinity incentives and constructions to promote liquidity, trust, safety, and reliability.

 

We, at OpenGrowth, are continually looking for trending startups in the ecosystem. If you want to know any further information about the startup ecosystem or have any mind-boggling ideas on the emerging industries, do refer to the other resourceful blogs at OpenGrowth. If you have any suggestions or questions, do let us know in the comment section below.

The character of instrumental music lets feelings radiate in their own way without presuming to display them as real or imaginary representations. That's the power of music! And Sudeshna believes in it.

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