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Uber's green competitor is riding a $30 trillion mega-trend

By James Stafford - posted Monday, 23 March 2020


The ride-sharing giants have been pushing for diversification with hefty bets on food and grocery delivery, scooter and bike rentals and even a proto-bank like Uber Money. Facedrive, too, is pushing diversification from the starting gate, with green delivery services.

But what the giants have ignored is environmental pressure - and that's exactly where this battle for supremacy could be decided.

Millennial investors are nearly twice as likely to invest in companies or funds that target specific social or environmental outcomes.

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Facedrive got there first, and its ride count has gone from 100 a day just 4 months ago to around 1,000 rides per day right now - and counting.

And now, comes the next push, as Facedrive slides things into fifth gear by expanding into the U.S. and European markets in Q3-Q4 of 2020.

Ride-sharing has already been overwhelmingly sold to the public. That means that the next-gen, green version of this $235-billion global business doesn't have to fork over a ton of capital to convince the market. They don't have to pile on losses and some day hope for profitability. They just have to be green.

It's Uber. Just better for the environment. And it's exactly what millennials want.

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This article was first published by OilPrice.com.



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James Stafford is the publisher of OilPrice.com.

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