>> An upstart ride sharing app called Taxify is already challenging Uber's territory in 19 countries across Europe, the Middle East, and Africa. But with a London launch this week it's entering a crowded battlefield. Where it will not only have to deal with Uber's colossus, but other apps, traditional cab services and the government that swung the regulatory hammer hard in recent years against perceived uncompetitive practices.
Marcus Villig is Taxify's 23-year old CEO based in Estonia. He says not only will his service always be cheaper than Uber, but fairer to drivers as well, as they'll drive away with a bigger share of the profits. It's only a fraction of Uber's size just 25 cities compared to almost 600, allowing it to operate on a much smaller overhead.
>> We're here to bring an assurance to something that we treat the passengers better so they pay less, while the drivers are earning more.>> If Taxify can overcome the same hurdles Uber has, it'll be the latest regional startup to successfully fight the Silicon Valley giant. Uber's massive expansion has been hit in the last year with legal setbacks, sexual harassment scandals, boardroom strife, and protests by its own drivers.
It's pulled back from countries Eastern Europe, Russia, and China. China's premier service, Didi Chuxing, has seized on that to go on its own offensive. Fighting a proxy war by backing upstarts like Taxify as well as local Uber competitors like Lyft in the United States and Ola in India.
Villig has his sights on Paris next, and boasts he'll overtake Uber in Africa by the end of the year, the spoils are huge. Goldman Sachs says services like these will be worth an estimated $285 billion by 2030. More than double the current value of the entire world's taxi market.