The story of Uber

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• nishanth vijayakumar

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The story of Uber

• The Uber Story formally began in 2008, when
  Travis Kalanick and Garrett Camp met at LeWeb, a
  tech conference in Paris. After getting into an
  argument over the fare with a local cab driver in
  Mexico, Travis Kalanick jumped out of the moving
  cab. The incident would leave him with a dislike
  for conventional cabs. A few years later, he
  founded Uber. Under him, Uber went from 3
  drivers to 3.9 million drivers, became the
  highest valued private company in the world and
  made him a famous billionaire, all within seven
  years. Then he was fired. The uber story offers
  inspiration and also warns about the consequences
  of pushing the limits too far. Like all
  entrepreneurs both had failure in startups.
• After they returned to California, they began a
  camp, bought the domain UberCabs.com. After
  having all setup to hail rides, Uber had a beta
  launch in San Francisco with three luxury cars in
  2010. As the number of users on a platform
  increases, Uber has become a "natural monopoly"
  in San Francisco. People found Uber to be very
  convenient. Drivers and users flocked to Uber. It
  stopped  people completely, for using the word
  "cab" in its name. The business model of
  outsourcing cars and drivers through contracts,
  helped keep investments and costs low. Cab firms
  have to pay hefty license fees to run cabs in a
  city. Since Uber did not register itself as a Cab
  Company, it was free of these shackles. Legal
  loopholes helped Uber push through these issues.

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• By 2012,Ubex was launched for low cost rides. In
  2013, people could use their personal cars for
  sharing rides on Uber X. It became a great
  combination of the gig economy and the sharing
  economy.
• The year 2017, would prove to be the worst for
  Uber. It was fighting lawsuits filed by cab
  companies and Uber drivers. At the same time, the
  continuous allegations of a toxic culture at
  Uber led to a federal level investigation into
  Uber. The resultant reports accused CEO Kalanick
  of fuelling the hyper aggressive culture in order
  to increase productivity. Kalanick took a
  sabbatical leave to understand these issues. Two
  weeks later, he resigned as CEO of Uber.

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• Under its new CEO Dara Khosrowshahi, Uber has
  gone into clean up mode. This is necessary for
  Uber. It has become a public company with an IPO
  in 2019. With public shareholders and 22000
  employees, Uber cannot continue with its upstart
  image and growth-at-all-costs mind set.As of
  2020, neither Uber, nor its competitors are
  profitable. Travis Kalanick has moved onto other
  projects. While he is still hated by some, Uber
  certainly wouldnt have achieved such scale
  without someone as intense as him. Uber says it
  plans to become profitable quite soon and has
  been cutting losses by selling some of its
  businesses to competitors. We all hope that this
  iconic company does well.