Primary goal of this resarch paper titled „Financial and social perspective in examining the extent to which a local market has adopted to the arrival of a global and a fast growing global player“, was to research the manner in which domestic taxi market has adopted to the appearance of Uber, the fast growing global company. The research has been conducted by taking into the account financial and social aspects. The empirical research has examined the financial results within a sample of service providing companies and by administering a set of survey questions to properly address the extent to which the market has transformed. Both users and providers of the taxi services took the survey. There were a total of 114 survey participants, out of which 102 presented taxi service users while the other 12 pertained to service providers. Survey results and financial analyses pointed to some interesting conclusions. The research results in this paper show that domestic companies did not suffer losses as a consequence of Uber entering into Croatian taxi market. Moreover, the research evidence points to the notion that since entering Croatian market, Uber has had a positive impact on the entire playing filed by encouraging the service providers to digitalize, a process making the entire market more competitive and efficient. To illustrate more precisely, a total number of taxi service vehicles has increased rapidly and the services has become less expensive, making it more accessible to a larger pool of users. User behavior, characterized by an increased use of online applications for ordering the service, has influenced service providers to digitalize. The end result was a win-win combination: user experience and the competitiveness of the service provider were improved. Examining the long term effects on market changes as experienced by the participants in this particular research would be interesting as the participants could provide the answers to some of the questions, such as: 1. will the taxi service market in Croatia grow at a similar or quicker pace, 2. will the service users become more demanding and „force“ the providers to keep improving and 3. what role will the employees and the service industry associates have in shaping the trends of offer and demand?