Startup Story of Uber

0
69
Startup Story of Uber

Startup Story of Uber – Uber is an American company. It was started in San Francisco. It was launched in 2009 and from then, the status of the company is that it has become the most valuable startup in the world. A company started an Uber cab that allowed people to book taxis through their smartphones.

Now, the Uber cab is known as Uber. The company has dominated the world tax market to become the giant in this sector. Uber has its presence in many countries including India. Uber has transformed itself from being a black-car service and then they went into a logistics company gunning for a future of self-driving cars.

Startup Story of Uber

Startup Story of Uber
Startup Story of Uber

The journey of Uber to the present time that it looks was filled with road blocks and was not a smooth one. They even started getting threats from the taxi industry and got backlash from their own drivers. However, the founder and the team were motivated enough to take bigger steps and climb higher. In the process, they started getting investments for the same too. 

Travis Kalanick is the founder of Uber cabs. He is an American businessman who grew up in Northridge, California. He was born on August 6, 1976. Garrett Camp is the co-founder of Uber cabs.

Both these people have worked days and nights to create this biggest cab company in the world. Garrett Camp is a Canadian Businessman and investor. Before starting Uber, Camp had started Stumble Upon that he sold to Ebay. 

The idea of starting Uber originated in Paris, Both these founders, friends previously, went to Paris for a yearly tech conference in December 2008 in the LeWeb. They founded Uber cabs as a taxi service in 2009 but their services were first tested in New York in March 2010 with just three cars.

Startup Story of Uber

Startup Story of Uber
Startup Story of Uber

But, they officially launched after this testing time in San Francisco in the same year in 2010. In 2011, the company changed its name from UberCab to Uber after objections from San Francisco taxi operators. 

It was a bootstrapped company at the first and they went ahead with self funding their idea. The first outer funding of $1.25 Million seed funding investment came from First Round Capital, Kalanick’s pal Chris Saca, and Napster’s co-founder Shawn Fanning.

Startup Story of Uber – The next funding was in 2011 of $11 million in Series A funding round that esteemed the company value at $60 Million. Bill Curley joined Uber’s Board of Directors.

They also locked in a $32 Million Series B funding round led by Menlo Ventures, Amazon’s Jeff Bezos, and Goldman Sachs in December 2011. And the funding kept on continuing, making it a hit all over the world. Uber raised $600 million at a valuation of $56 Billion in May 2018. 

The status says that till 2018, Uber has expanded from San Francisco to 83 countries in 7 years. It has been growing significantly like no other business around. Uber launched in New York in 2011. Between April 2015 to April 2016, Uber served 170,000 trips per day which was huge. 

Read More – Story of OYO

LEAVE A REPLY

Please enter your comment!
Please enter your name here