After Uber surpassed rental cars around this time last year, they’ve recently reached yet another incredible milestone — they’re the majority leader for all business travel in North America (according to Certify, which is the second largest business expense tracking solution in the region).
You can see in the below graph how the market share for business travel has rapidly been leaving taxi’s and heading to both Uber and Lyft. Not only are they cheaper and much more convenient to hail, but both apps now also provide solutions to make tracking expenses and setting up business-specific accounts a breeze.
Photo courtesy of Bloomberg
While Uber seems to be growing at the quickest pace, don’t underestimate Lyft and their rather remarkable explosion of growth. One must remember that they’re only available in the United States, and fewer cities/major metropolitan areas than Uber.
According to Certify, the average expensed price for an Uber ride was $24.75, $24.99 for Lyft, and $34.62 for taxi cabs.