Ingenious technology, dynamic management, and constant controversy garnished beautifully over an exemplary service, today makes Uber the highest valued private startup company in the world. Valued by investors at $70 billion, it exceeds the behemoths of the automotive sector like Ford, General Motors, and Honda.
The skyrocketing valuation of Uber has triggered ongoing debates that whether it is justifiable to the iconic car making companies that manufacture and sell the bulk of cars around the world.
Uber is not only a private chauffeur entity, in fact, it is a logistic company, it astonishes with ice cream delivery, flower delivery, and even helicopters on demand. Uber is truly an example of an exuberant startup which clearly justifies the fact that with dedicated employees and user-friendly application that is being used by a huge number of people, you can do wonders.
How things happened??
Uber’s story began in Paris in 2008. The two friends then, still friends and not aware they’ll be leading the most successful startup of the World history were attending the LeWeb, an annual tech conference. Travis Kalanick and Garrett Camp were struggling to get a cab on a snowy evening during the conference.
So they came up with a simple idea-tap a button and get a ride. Initially, the plan was for a timeshare limo service that could be ordered via the app. The idea was so interesting that Garrett took the lead and after playing with few prototypes and going through few brainstorming sessions he engineered a mobile app for iPhone which had the capability to revolutionize the very concept of getting around.
It didn’t take long for Travis to join the ride with him on what be later grow up to become the most successful startup of the world and be known as Uber. The service was tested in New York in early 2010 using only three cars and the official launch later took place in San Francisco in May.
Since the inception of the service in 2010, the company has grown insanely, from being a black-car service to a sprawling logistic company and now shooting its ideas for self-driven Cars. The success of Uber has a lot to do with the mentality of generation Y.
Who doesn’t want to book a cab, maybe while lying down on a sofa with just a few clicks? Isn’t it better than standing in a crowded street and bargaining with a cab driver and then riding in a rattling old car to your destination? Of course, it is better and this is the reason why Uber currently operates in 58 countries in the world.
Moreover, people are frustrated with their jobs, their relationships their governments and the salary that they get surely doesn’t permit them to buy a German monster such as the BMW 7 series or Audi 8.
So, why not spend a weekend of royalty?
If given a choice why not roll out in a BMW once in a while?
Uber has made this possible for people like you and me to take a break from the rat race and get a classy ride in a Mercedes.
Uber is spreading happy faces all over the world but behind this contentment there lie many stories of endeavors. Uber has faced many agitations from the Taxi drivers association from different parts of the World and a part of their strategy to mitigate the opposition, the company had hired David Plouffe, a high-profile political and corporate strategist who worked on the Obama’s 2008 presidential campaign.
Today Uber has come up with varied options, Uber pool, Uber X, Uber XL, Uber Hire etc. Uber has merchant delivery service, UberEATS and same day courier service called UberRUSH. The rumors also say that the company is planning to launch Flying Cars by 2020. Like Google (GOOG), Apple Inc.(AAPL) and Tesla Motors(TSLA), Uber is also competing in the race for a future of driverless cars.
Many see Uber as the next $100 billion company and the way things are going for this startup, it is not a far-fetched assumption. The only suggestion I can give you is Uber should definitely be the last app to your phone to get uninstalled during a crisis.
The days are not far enough when you can order everything with just a tap on this app. Don’t get surprised if your dealer says you can get hookers with a click on this app!!!