In 2013, Car Next Door had around 20 cars on the platform. Now, they have over 3,500 cars and 100,000 drivers.
Background: Car Next Door is a peer-to-peer car rental service. In other words, car-owners can rent their cars on an hourly or daily basis to other people.
What happened: In 2013, they had around 20 cars on the platform. Now, they have over 3,500 cars and 100,000 thirsty drivers across major Aussie cities.
What else: Now, Uber has acquired Car Next Door for an undisclosed amount (robbing us of a scoop, WE KNOW). The idea is that Car Next Door will give Uber users a different option...and avoid that awks small talk.
💡To own an industry, a company needs to have product diversification. And it's particularly important for businesses that have been experiencing a bit of a growth rut.
💡Product diversification can be things like repackaging an existing product, renaming a product...or it could be a product extension (i.e. giving customers the opportunity to rent a car as opposed to just hitching a ride in one).
💡Up until now, Uber customers haven't had the option to take a mid-range or long-distance trip. But, the deal with Car Next Door will change that, and hopefully boost Uber's bottom line.
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