The Uber Successful Story
Uber is one of such crazy little idea that turned out into billion Dollar Company. Uber is one of the leading on-demand transportation services. In a span of 5 years Uber has become $18 billion Company. Uber app helped peoples to find cabs in time and at affordable price. This app helped people to discover the nearest Uber cabs and set a meeting point. After confirming your order, driver drops you at your destination and takes the fare. It is simple no cash, no tips, and no more arguments with drivers.
Uber has launched some delivery programs such as its food delivery service, UberEATS and a same day courier service called UberRUSH. Uber also offers UberPool, which allows drivers to pick up many riders on one ride, which makes it a cheaper choice compared to UberX and UberBlack. This year in partnership with has rolled out a co-branded rewards credit card in the U.S. The Uber Visa Card reportedly will be free and come with a $100 starting bonus. It would also recommend cash back on payments including dining, airfares and assured online transactions.
UBER TAKES OFF, BUT SOON FACES LOSSES
2011 was a critical year for Uber’s increase. Early in the year, the company raised an $11 million Series A round of funding led by Benchmark Capital and it went on to expand to New York, Seattle, Boston, Chicago, Washington D.C. as well as abroad in Paris. In December 2011 LeWeb discussion, Kalanick announce that Uber raise $37 million in Series B support from Menlo Ventures, Jeff Bezos, and Goldman Sachs. In 2012, the company broadened their offering by launching UberX, which provided a less costly hybrid car as an option to black car service. The latest about was in June, 2016, when Uber raised $3.5 billion from Saudi Arabia’s Wealth Fund.