Where I live, in Europe, we have now Uber, Mytaxi, Bolt (prev Taxify) and Cabify. Not sure if there are even more. I regularly switch between them (to make sure

Where I live, in Europe, we have now Uber, Mytaxi, Bolt (prev Taxify) and Cabify. Not sure if there are even more. I regularly switch between them (to make sure their algoritmes think I am a critical user = lower pricing). Then there are also electric bikes and electric scooters (4 or 5 platforms). And there is DriveNow, a on demand rental offering of BMW. Just saying: local competition seems 'too easy' (as platform one could even use libretaxi.org or tagmytaxi.com) The question is not how much market share, but how much sustainable profit they can make. In the mobile phone market there are several bigger suppliers that are making no profit. Another thing to keep in mind: VC's and other investors are in it for the money. If there was more money to be made by keeping the company private, they certainly would do that. They decided to do a IPO because it will make them more money then not doing an IPO.