The ride-sharing market is heating up with new competition that could raise the stakes for more established companies like Uber and Lyft.
Bide, a real-time bidding ride-share platform, is preparing to launch a service that will allow riders to choose the driver they want based on the offer price, vehicle, driver rating, and more. This works with Bide partner drivers, and it takes under a minute for the bid to go through and for the rider to select a bid.
“There is little to no choice for consumers to choose their transportation by weighing factors such as the year, make and model of vehicles, driver information, and differentiated offers made based on human factors not just algorithms,” said Bide, in reference to the current ride-hailing system.
The company is aiming to transform the ride-sharing industry by providing drivers with “better opportunities to increase their revenue” by ensuring they have “the freedom to set their own prices for transporting Bide riders based on real-time and unique conditions to them at the time of the ride request.”
The service launch date has not been announced, though the company said it is coming soon. Bide’s website revealed the service will launch in a few U.S. cities to start.
Although the concept of real-time bidding is interesting, the approach could also frustrate consumers and create distrust for riders looking for a stable price option, and one that that does not fluctuate and create a sense of being taken advantage of by the driver.
Earlier this year, during a taxi protest in Montreal, Que., against the provincial government’s attempt to de-regulate the industry, Uber riders raised their prices by nearly two times the normal price for people seeking transportation from Pierre Elliott Trudeau Airport, according to MTL Blog. It was not the first time Uber drivers let prices jump up.
