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司乘天平上的滴滴
远川研究所· 2025-10-10 13:05
事实上,早在 2024 年滴滴的平均抽成已降至 14% 。这与滴滴探索出的保障体系紧密相关,此次滴滴 除主动调低上限以外,还提出了降低高佣金订单比例和建立纠错机制 " 返佣宝 " ,多扣即返。 困扰网约车司机的抽成问题不止发生在中国。 Uber 的平均抽成在 30% 左右,是滴滴的两倍多,司机还 需自行承担较高的税费等成本。今年 7 月,南非的 Uber 司机就曾对平台抽取过高的佣金表达不满;去 年情人节,美国司机也向 Uber 表达过降拥诉求,提出 " 不改,就分手 " 的 slogan 。 平台佣金成为全球网约车领域的高敏感话题,核心原因有两个: 首先是,平台运作机制看似简单,只需将司乘配对即可,但实则复杂且不易被理解,区域内的司机状 态,乘客所处位置,区域内整体供需情况等等因素,都会对配对造成直接影响。 其次是,佣金直接关系着乘客支出以及司机收入,平台作为居间的分配者,天然会被归类于 " 黑心商家 " 。 但实际上,全球无论是哪家出行平台,做的都是一门稍有不慎,便会陷入亏损的微利生意。 不易感知的服务 近期,各出行平台纷纷下调最高抽成上限:由 29% 降至 27% ,引起广泛热议。 中介服务在日常生活中 ...
数百万网约车司机,给平台出了一道平衡难题
吴晓波频道· 2025-09-29 00:29
点击上图▲立即收听 " 网约车的意义早已跳出了 ' 把人送到目的地 ' 的工具初心,逐渐发展为将 ' 分散的时间、车辆和劳动力 ' 重新拼接的超级基础设施。 " 文 / 巴九灵(微信公众号:吴晓波频道) 武夷山特产大红袍, 这 里 几乎家家都有茶园。 像林姐这样的季节性劳动者,是网约车平台为解决劳动力错配重点吸纳的人群。她的出现,也意味着网约车司机的数量和多样性正不断扩大。 长久以来,网约车 行业 都是重要的就业蓄水池和缓冲垫。 一方面,它收纳了产业升级溢出的群体。《报告》显示,近七成被调研司机来自制造业、建筑业、餐饮业等传统蓝领工种;另一方面,新群体不断 涌入,且呈现中年化和女性化趋势。 每年四、五月份是采茶旺季,其余月份农闲。茶农林姐的生活由此被分成两季:茶叶旺季采茶,淡季跑滴滴。跑车一年赚的十几万,是她抵御季节 性农业不确定性的底气。 这样的故事,在无数滴滴司机身上上演。回流县城的下岗工人、突遭变故的城市中产、兼顾家庭的中年女性 ……他们手握方向盘,摸索着人生新 的可能性。 据中国新就业形态研究中心课题组新发布的报告《城市出行的就业韧性:网约车司机就业图景与职业表现( 2025)》(以下简称《报告》)显 ...
Katapult(KPLT) - 2024 Q4 - Earnings Call Transcript
2025-03-28 13:02
Financial Data and Key Metrics Changes - Q4 gross originations grew 11.3% year over year to $75.2 million, with a two-year stack growth of 25.7% [37] - Q4 revenue increased by 9.4% to $63 million, marking the seventh consecutive quarter of year-over-year growth [41] - Full year 2024 gross profit was approximately $45.8 million, up about 10% compared to 2023, with a gross margin of 18.5% [43][44] Business Line Data and Key Metrics Changes - For Q4, gross originations from the top 25 merchants grew 10%, while excluding home furnishings and mattress categories, gross originations grew over 50% year over year [40][38] - Approximately 68% of total gross originations in 2024 came from direct and waterfall merchants [27] Market Data and Key Metrics Changes - Approximately $127 million of gross originations in 2024 began in the Catapult app, with K Pay enabling nearly $77 million of those originations [12] - Total app originations grew by 32% year over year in Q4, with K Pay originations up approximately 52% year over year [18] Company Strategy and Development Direction - The company has transformed from a single input-driven business to a multi-dimensional growth engine, focusing on consumer and merchant engagement [7][16] - Plans for 2025 include driving additional top-of-funnel activity, enhancing consumer engagement, and improving unit economics [16][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continued growth despite a challenging macro environment, particularly in the home furnishings and mattress category [51][52] - The company anticipates gross originations growth of at least 20% and revenue growth of at least 20% for 2025 [53] Other Important Information - The company reported a Q4 adjusted EBITDA loss of $1.1 million, which was below expectations due to strong top-line growth and lease depreciation costs [47] - As of December 31, 2024, total cash and cash equivalents were $16.6 million, with $82.8 million in outstanding debt on the revolving credit facility [49] Q&A Session Summary Question: Outlook for margin in 2025 - Management expects gross profit to remain in the 18% to 20% range for 2025, consistent with previous years [56] Question: Changes in consumer behavior due to tariffs - Management has not observed significant changes in consumer behavior related to tariffs, with delinquencies remaining stable [58][59] Question: Drivers for improved EBITDA margin - The improvement in EBITDA margin is primarily due to diligent expense management and investments in technology and marketing [67] Question: Growth in Wayfair originations - Wayfair's gross origination growth continues to be down, but the business outside of Wayfair remains strong, growing at 50% [68][69] Question: Merchant acquisition in uncertain macro environments - Management believes that uncertainty can accelerate merchant acquisition as they seek growth opportunities [74][75]