On Thursday, the 11th of April 2019, taxi drivers of Buenos Aires, Argentina, had blocked the streets to protest against Uber, pronouncing the latest anti-Uber protest after identical incidents had been observed over the streets of Madrid and Barcelona last month.
Challenges seemed to be mounting for the US-based ride-hailing giant in Latin America ahead of a much-anticipated IPO, as Didi Chuxing, world’s largest ride-hailing service provider based on Beijing, had been tipping the taxi drivers of Latin America to protest against Uber and not to raise hands over their ride-hailing services.
Taxi Unions of Argentina had walked through the center of capital on Thursday (April 11th) at the beginning of a two-day protest against Uber, after facing steep competition from cheaper ride-hailing alternatives such as Uber and regulatory hurdles in such a region of the world, where the taxi drivers had been operating at a legal gray area for decades.
The anti-Uber protest had been underlining a blaze of anger among the taxi drivers of the city, since Uber drivers were stealing away their consumers with competitive fares. Amid an ongoing anti-Uber protest, underscoring further hurdles for Uber on legal issues and a declining payout to drivers, a managing partner of Magma Partners, Latin America-based venture capital fund, Nathan Lustig said, “I see the biggest threats outside of competition being from regulation and a potential backlash against Uber as payouts to drivers continue to fall”.