Rideshare upcomer Empower points to strong growth trends

[Financial advisor interacts with a digital interface displaying machine learning data insights.]

Empower continues to grow as it looks to disrupt the rideshare industry. The software company updated that drivers using Empower to run their own businesses provided over 250,000 rides last week. "While it's nothing compared to our expected future growth, we're excited that the platform has grown 25% in the past 6 weeks," highlighted CEO Joshua Sear.

"We continue to be particularly excited about our growth in the Baltimore metro area. We launched Baltimore last December, and just 9 months later, drivers working for themselves using Empower are providing over 80,000 rides per week there," added Sear.

Riders using Empower pay drivers 20% less on average than riders pay to Uber or Lyft, according to the company. Riders can also request a driver they feel safe with by limiting ride requests to favorite or same gender drivers. The company was founded in 2019 by Joshua Sear, in part as a response to the growing frustrations of Uber (NYSE:UBER [https://seekingalpha.com/symbol/UBER]) and Lyft (NASDAQ:LYFT [https://seekingalpha.com/symbol/LYFT]) drivers.

Empower initially launched in Winston-Salem, North Carolina, before expanding to the Washington, D.C. metro area in 2020. A notable attraction for Empower drivers is that they are not considered employees or independent contractors. "You are your own boss. You set your own rates and get 100% of the fare," the company highlighted on its website. Drivers can also see both the pickup and drop-off destinations before accepting a ride.

Empower currently operates in the Washington, D.C., metro area, as well as the New York City metro area, Baltimore region, and the Winston-Salem/Greensboro metro area in North Carolina.

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