Uber has been planning to go public soon in 2019. Clearly, their multi-modal transportation provider efforts have supported their vision.
On December 4th, 2018, Uber team had officially announced on Uber Newsroom blog, about their new launch of Uber Bus from Cairo, Egypt.
It specifically said, “Uber CEO Dara Khosrowshahi joined the Egyptian Minister of Investment and International Cooperation H.E. Dr. Sahar Nasr in Cairo today to announce the launch of Uber Bus in Egypt.”
More about the Uber bus news –
Uber Bus, a product built for Cairo, incorporates Uber technology into the city’s already popular minibus system. This is to provide safe, seamless, and efficient trips. Cairo is the first city globally to be rolling out Uber Bus and is an important step as Uber broadens its platform to be more accessible so that truly anyone, anywhere can get a ride.
When Cairo residents request a Bus ride through the standard Uber app, Uber will find other passengers travelling in the same direction so that everyone can get to their destination with fewer stops. As the rides are shared with other Uber passengers, the price is affordable enough for everyday use, while still maintaining Uber standards.
Uber has been testing Uber Bus since September 2018. It was to ensure the safety and seamlessness of the product prior to its launch. The initial roll out will start by covering the areas of Nasr City, Heliopolis, Greater Downtown, and Mohandeseen. Uber would then expand across Cairo in upcoming months. Bus is the latest addition to the Uber app in Egypt, joining the UberX, Select and Scooter offerings
As TechCrunch says, “It’s not clear if Uber plans to more broadly deploy these buses, but the company says it’s “an important step as Uber broadens its platform to be more accessible so that truly anyone, anywhere can get a ride.”
Uber declined to comment on expansion, but it wouldn’t be surprising to see these service in other emerging markets.
More Insight –
Uber’s official announcement –
- Uber CEO Dara Khosrowshahi in Cairo to announce new minibus product alongside Minister of Investment & International Cooperation, H.E. Dr. Sahar Nasr
- Sahar Nasr: Uber’s new investments will benefit from the new investment law and the ride-sharing regulations
- Uber CEO: We will continue to invest significantly in Egypt. The new service will have affordable prices.
- Uber is committed to broadening access to its platform with a range of low-cost services; becoming more accessible to millions across Egypt and Middle East
- Uber also set to roll out Uber Lite, a new version of the rider app built to work in low connectivity; and with older Android devices, across the Middle East early next year
Excerpts from the blog –
Dr. Sahar Nasr reiterated the Ministry’s support for companies investing in Egypt to expand their presence. She stated that “with a global company like Uber choosing Egypt to launch “Uber Bus” is a testament to the success of the investment climate after the latest regulatory reforms. Uber’s new investments will benefit from the new investment law and the ride-sharing regulations, as well as the roads and bridges infrastructure the country has put in place, based on the directive of His Excellency President Abdel Fattah El Sisi.”
The Minister also said that “Uber’s investments highlight the attractiveness of Egypt’s investment climate. Having opened its Centre of Excellence in Cairo in 2017 with an investment of around US$ 20 million, Uber has now, in 2018, chosen Cairo once again, this time for the launch of Uber Bus.”
Dara Khosrowshahi, Uber CEO, said:
“I’m excited to be in Cairo to launch Uber Bus, a product that will improve affordable transportation for millions of Egyptians by using Uber’s technology to enhance the popular minibus system. We are committed to broadening access to the Uber platform with a range of low-cost options that will move more people around town and help cities tackle issues such as congestion. Egypt and the Middle East region are hugely important to Uber and we will continue to heavily invest in this part of the world.”
News about Uber Lite –
Uber Lite, the new, space-saving app works in low connectivity areas and on 99% of Android devices. Uber Lite’s new interface was designed to make booking rides quicker and lighter in spotty connectivity. It’s available on basic Android phones, and for people with limited data plans. The product is already being testing in parts of the region with plans to roll out early next year.