Uber's competitors are wasting no time in trying to take over London's ride-hailing market amid the ongoing dispute between the American ridesharing firm and the city's transport regulatory board.
According to CNBC, among the ridesharing companies trying to capitalize on the situation are Bolt and Kapten. Bolt was quick to state that it is the "duty of a responsible" operator to cooperate with London regulators.
Kapten, on the other hand, also declared that while the ride-hailing the dependent city needs the sector, "we don't need Uber." The competition has just started heating up as Bolt is said to have delivered new sign-ups for customers shortly after Uber's license was revoked on Monday.
Months earlier, Uber CEO Dara Khosrowshahi noted that the arrival of newcomers in London was not threatening business at all. He said at that time that it was not unexpected or surprising to see competitors coming around.
However, some industry experts are watching London's ridesharing market closely after the Transport for London (TfL) board decided to not renew Uber's license to operate in the city.
Some industry analysts argued that Bolt and Kapten are actually doing a good job in trying to thwart Uber's dominance in London. The company revealed that it already has more than 30,000 drivers ever since it launched in the city five months ago.
While Kapten already has 16,000 drivers roaming around the city, India's ridesharing app, Ola, is also working to roll out in the area. The company said it would launch officially within a couple of weeks and will start the registration process for drivers.
It is also worth noting that both Kapten and Bolt have pledged cheaper fares for ride-hailing consumers. Aside from more affordable pricing models, Uber's competitors also said they will take less from their drivers' commissions compared to what the dominant app takes.
Meanwhile, it was reported early Thursday that co-founder Travis Kalanick has sold of around $1.7 billion of his Uber stocks this month. Before his latest move, Kalanick was not allowed to sell off his shares due to a lock-up period, The Telegraph reported.
The news came amid mounting pressure from investors and industry analysts following the TfL's decision to block the company from further operating in London. The ride-hailing giant has less than 21 days to appeal the decision.
This is the second time that the TfL revoked Uber's operating license in the city, but the company already had several issues that it weathered over the past few years, including Kalanick's alleged involvement in harassment and discrimination.
It remains to be seen whether Uber rivals will take a big chunk of the London ridesharing market as the U.S. firm is still operating as usual during the appeal period.
