The cliche is ‘early bird catches the worm’ but we were wondering if early funding also catches the market. 🐦
Uber wasn’t the first on the ride sharing scene, but they’ve made by far the biggest splash. However in the last few years competitors like Bolt, Grab and FreeNow have burst onto the scene, with really similar apps. We wanted to find out, has Uber still got the lead?
When we crunched the numbers we found Uber is still streets ahead of the competition. Despite Bolt’s bumper Series B, they’ve raised a fraction of Uber’s total overall. Suggesting that speed is a big advantage in raising funding. 🚀
Note amounts sourced from www.craft.co and www.crunchbase.com
Being first still pays. If your startup is successful it risks being copied, but Uber’s story shows you can keep ahead of the competition.