Features
17 juin 19

Ride-hailing, a billion-dollar business in Latin America

Ride-hailing revenue in Latin America – home to some 625 million people - is expected to top US$1 billion by 2023, nearly four times the US$518mn seen in 2018, according to statistics portal Statista.

This can be accredited to the rapidly growing urban population in the 36-country region, along with the growing number of cell phone users. In the last 50 years, people living in cities has increases six-fold and today, 30% of them live in cities with one million people or more.

Moreover, while Latin America had just over 200 million smartphone users at the end of 2018 (30% of its population), access should double to more than 60% by 2020, according to technology news portal TechCrunch, giving would-be travelers even more access to mobile app-based services. 

Although there are others, the main app-based ride-hail services in Latin America are Uber, 99, Easy Taxi, and Cabify.

 

Company

Founded

Size

Latam coverage

News

Uber
 

2009 (USA)
2013 (Latam launch)

Headquarters
San Francisco, USA

91mn users, of which 36mn are in Latin America

10,001+ employees

Largest Markets are Brazil and Mexico, but present in 16 Latam countries

60 countries worldwide

IPO launched in May, 2019

99
 

2012 (Brazil)

Headquarters
São Paulo, Brazil

14mn users

501-1,000 employees

300,000 drivers

Brazil

China’s Didi Chuxing acquires in 2018 for US$1bn

Easy Taxi

2011 (Brazil)

Headquarters
São Paulo, Brazil

500,000 drivers

17mn users

Mainly Argentina, Mexico, Bolivia, Panama, Brazil, Peru, and Chile, but present in more than 20 other countries

Maxi Mobility acquired from Rocket Internet in 2017 for undisclosed amount.

Cabify

2011 (Spain)
Started in Latam shortly thereafter

Headquarters
Madrid, Spain

13mn users

10 Latam countries, in addition to Spain and Portugal

Owned by Maxi Mobility

 

 

 

 

 

 

 

Authored by: Daniel Bland