I've written a few posts related to Juno in the couple of months.
Today I decided it needed to be more of a focus.
In the rideshare industry, everyone is always looking for the next big thing.
We're wondering, how soon will we see self driving Ubers?
We hear that Uber just invested in an artificial intelligence company, and that peaks our interest.
That's where Juno comes in.
They want to shake up the industry by doing something really crazy. Putting drivers first.
For anyone that's driven for Uber (or even Lyft for that matter), the thought is novel.
It makes you wonder if that's really possible. Given that Juno is still in beta mode in NYC, we don't really know the answer.
So I thought I'd check in on Juno, see where they're at in the expansion process and reexamine their plans to compete with Uber and Lyft on a national level.
Juno Expansion | Where is Juno at in the Growth Process
Juno is currently still beta testing in NYC.
From all of the sources we've checked - that test has been going well.
At the moment, Juno is giving 20,000 rides a day in NYC. Not bad.
Uber, on the other hand, does about 200,000 rides.
By this comparison, Juno has made progress but still has room to grow.
It's unclear how soon Juno will expand outside of NYC, but they have a strategy that appears to be working at ground zero.
Let's take a look at how Juno stacks up against Uber:
- In beta testing phase, currently operates in NYC
- Gives 20,000 rides daily in NYC
- Seeking $50 million in current round of funding
- Takes a low 10.5% commission from drivers
- Gives drivers equity in company (50% of shares reserved for drivers)
- Operates in over 80 countries and close to 600 citites
- Gives 200,000 rides daily in NYC
- Valued at over $60 billion
- Takes a 25% + commission from drivers
- Passenger focused rideshare platform
How Will Juno Compete With Uber?
When you take a look at the Uber vs. Juno comparison it's clear that Juno has some work to do.
So will Juno be able to compete?
They've definitely nailed down their core issue (driver relations). And it looks like they have a solution.
The churn rate in the rideshare industry is close to 50%.
If you can find a way to attract the best drivers and retain them, you've got a more sustainable business model.
Juno has already set up the incentives to stick with them. They take a lower commission and give drivers equity in the company.
At this point, they've got to focus on attracting passengers.
It's really not that difficult, it just requires cash.
If Juno can offer promotions and aggressively market to passengers, they shouldn't have an issue expanding.
They plan on accepting only the best drivers (must have 100 rides at 4.7 star rating or better with Lyft/Uber).
In theory, this will equate to better service.
Does Juno Actually Have an Advantage Over Uber and Lyft?
With huge valuations and vast expansions under their belts, it appears Uber and Lyft have a huge advantage.
There is one big advantage of Juno that gets overlooked.
They're the newcomer.
Uber has gotten a ton of bad publicity in the past few years. Lyft doesn't have a perfect record either.
Drivers are generally in a position where they don't exactly like either company, but they have bills to pay.
The fact that Juno doesn't have any track record could really work in their favor.
Just recently, the #DeleteUber protest went viral.
It appears that Uber was able to deflate the movement. Travis Kalanick dropped out of his advisory role in the Trump campaign, which had sparked the protest in the first place.
Damage control appears to have worked, but protests like this are becoming more and more common.
It looks like the rideshare industry is asking for a new solution, and Juno might just have it.
What do you think? Leave a comment below.