The global mobility platform Uber is strengthening its dominant position in the U.S. market and accelerating its expansion into overseas markets and technology collaborations. Based on stable revenue from North America, it is diversifying its business globally and fully implementing its autonomous driving strategy.
According to consumer data analysis company Second Measure, as of last year, Uber's market share in the U.S. ride-sharing market was 76%, greatly outpacing Lyft's 24%. In the early days of the COVID-19 pandemic in early 2020, Uber's market share was 62%, while Lyft's was 38%, but the gap has widened over the past four years.
Based on its advantage in the U.S. market, Uber's stock price is also on the rise. On June 6, local time, Uber's stock price closed at $85.83, up 0.47% from the previous trading day. It peaked at $87 during the day, setting a new all-time high. This is an increase of about 35% compared to the beginning of the year, bringing its market capitalization to $179.5 billion.
Uber is continuing its aggressive strategy to penetrate markets outside North America. On June 6, local time, Uber announced that it will acquire 85% equity in 'Trendyol Go,' a food and grocery delivery service operated by Turkey's largest e-commerce company Trendyol, for about $700 million. Currently, Uber only operates a ride-hailing service in Turkey, but this acquisition will significantly boost its market share for food delivery service Uber Eats. Trendyol Go processed over 200 million orders last year, with total reservation revenue reaching $2 billion, a 50% increase from the previous year. The acquisition is expected to be completed in the second half of this year.
In the field of autonomous driving (robo-taxis), Uber is also expanding strategic collaborations with Chinese technology partners. On June 2, local time, Uber announced plans to commercialize robo-taxis in Europe by early 2026 in partnership with Chinese company Momenta. Initially, safety personnel will accompany, but there are plans to transition to fully autonomous driving afterward. Dara Khosrowshahi, CEO of Uber, noted, "Uber's global ride-sharing experience combined with Momenta's AI-based autonomous driving technology will allow more passengers to enjoy the benefits of reliable autonomous mobility."
Uber also announced plans to pilot robo-taxis in major Middle Eastern cities later this year in partnership with the startup Pony.AI, led by a Chinese-American founder. Following the announcement of the collaboration, Pony.AI's stock surged 47.63% in the New York stock market within a day.
Uber is also strengthening its strategy to penetrate the South Korean mobility market dominated by Kakao Mobility. To that end, in early this year, it acquired 49% equity of Tmap Mobility, a former joint venture 'UT,' establishing independent management. Initially, Uber provided services through the 'UT app,' which was separate from its global app in Korea, maintaining a bifurcated structure that did not fully reflect the headquarters' technology and operating systems. Additionally, unlike in the U.S. and Europe, where it offers ride-sharing services based on general vehicles (P2P), in Korea, private vehicle hailing is prohibited under the Passenger Transport Service Act, requiring partnerships with corporate taxi and individual taxi drivers.
With this equity acquisition, Uber has unified under the single brand 'Uber Taxi' and established a direct management system tailored to local legal structures, while providing the same user experience as the global app. Uber stated, "The success rate of dispatch has greatly improved, particularly in the metropolitan area centered around Seoul, and the number of calls and drivers is also rapidly increasing."
In February, Uber launched its corporate hailing service 'Uber for Business (U4B)' in Korea, targeting the B2B market. This service is aimed at employees who often travel for business, and globally it has secured over 200,000 corporate clients, with many overseas expansion companies among the top 500 in Korea also using it.
The policy environment is also working favorably for Uber. The mobility service industry is closely linked to the laws, regulations, and labor markets of each country, making it particularly sensitive to regulation.
On June 6, local time, U.S. Representative Carol Miller (Republican) reintroduced a bill urging the Korean government to refrain from implementing discriminatory regulations against American platform corporations. The bill stipulates that the U.S. Trade Representative (USTR) will review whether discrimination exists and may initiate World Trade Organization (WTO) disputes and the Korea-U.S. Free Trade Agreement (FTA) dispute resolution process if necessary. Previously, President Donald Trump had also stated a firm stance against anti-competitive regulations by foreign governments.
A source from the platform industry noted, "Unlike the Trump administration's previous focus on targeting some platform corporations, such as Google and Meta, Uber has never been a direct regulatory target. This has allowed Uber to have relatively low policy risks and leverage a favorable position in diplomatic and trade issues."