Even if this isn't quite an uber rival, this is ultimately Uber's problem. All they are is an app with some marketing, and anyone with a bit of money can easily come up with a competing app.
>All they are is an app with some marketing, and anyone with a bit of money can easily come up with a competing app.
I think I'll let your first statement stand, but in regards to the second. Uber has raised $5.9bn dollars, is doing ~2m rides per day, is in 300+ cities -- sure you can create a competing app, but the chances of meaningfulness are small if non existent.
The relevance is that a $5.9b valuation is dubious when it's based on an illegal enterprise. That "value" can disappear in an instant when municipalities start cracking down.
I think I'll let your first statement stand, but in regards to the second. Uber has raised $5.9bn dollars, is doing ~2m rides per day, is in 300+ cities -- sure you can create a competing app, but the chances of meaningfulness are small if non existent.