Uber Acquisitions Swipe Labs
The reason for Uber to acquire a company which develops Snapchat rivals is because it wants its driver app to get a great glossy touch. Related to this Uber made a talent-acquisition venture with regards to Swipe Labs which is maintained by Marwan Roushdy. Marwan and a given set of engineers from the startup will be integrated with Uber to augment the driver experience all inside the driver revenue sector. One noted that the deal was due to the shortage of cash instead of being signified as an expensive appropriation.
In a time span of the previous four years, the company generated 8.2 million dollars and developed some apps related to images, videos, and group text sharing. Although the main dealings were kept confidential, it is evaluated that the worth is deemed to be very insignificant. This is featured as one of the dangers of associating with budding social start-ups where the odds are stacked up against them and they face a daunting challenge ahead.
The Swipe Lab’s founders Roushdy and Hardy were introduced to one another when functioning at the now obsolete social map app named Connect. They ventured into a furniture renting startup named Fonz which also fizzled out. Their next venture was also not successful. However, from the experience, they integrated their prowess as Swipe Labs where the user base can put up images and videos which were featured in a stack associated parallel to the data of other users all on the home screen related to friends in Swipe. It gained steam and boasted of more than a million users in a quick span of time and was valued at $5.6 million. However, the dominance of Snapchat made the start-up to fizzle out even though it attempted to regain momentum by developing apps like Channel and ChitChat. Ultimately the people associated with the start-up were very much worthy than the products that were developed by it.
Uber made the right move to acqui-hire a brand like Swipe labs where skilled experts are featured in a single listing. The company’s venture into driver revenue generation has undergone a radical evolution with the inception of the tipping feature. Uber could sure benefit from the talent acquisition where the drivers can generate more revenue, gain more insight and receive the payouts related to daily day survival of them and their families. It is most unlikely that Uber will roll out its equivalent of Snaptchat app. However Uber can add a trust factor to keep the drivers loyal to the brand in the highly vying market.