Commonly known as ‘Uber’ for short; Uber Technologies Incorporated are a transportation network firm that operate around the world. They have had global success, making them one of the world’s “Unicorn” companies – that’s those whose worth has reached over a billion dollars. Despite global success and a huge online presence Uber have a bricks and mortar headquarters in San Francisco. With over 785 travel centers throughout the world it is easy to see how this company has become one of the most successful in the world.
So what do they do to make all this money? Let’s take a closer look to find out.
Uber Technologies Inc.
Uber started life in 2011 when it was formerly known as UberCab – which began in 2009. Originally solely a cab connecting service they have adapted and changed with the times to stay on top of their game. Expansions have included a peer ride-share network, a method of food delivery, a bike sharing service and an overall delivery company. Uber have become a household name over the years and, as of 2018, is steadily on track to replace ordinary taxi services around the world.
Arguably; the way that Uber grew so big was by getting in early on the digital revolution. They set up online networks, payment processes and review facilities that rose in popularity alongside the rise in Social Media use. The more the current trends are towards sharing, buying and selling over the internet grows – the better companies whose business model revolves around the modern prevalence towards an information sharing society will perform.
Services Uber Provide
As well as what everyone knows already – that Uber connect drivers with passengers and use an adaptable pricing system to personalize fares; they also offer a range of other services, some of which are as follows:
- A tipping service whereby clients can leave extra payments for drivers that perform well.
- UberBlack – grants a luxurious black cab for when you need to travel in style
- UberAssist is a tailored network especially for those who need a little extra help or a modified vehicle.
- UberEspanol allows Spanish passengers to connect with Spanish drivers when the language barrier is a problem.
- UberAuto is used to hire a Rickshaw.
- UberBike is their electric bicycle sharing network.
- UberBoat is for hiring a speed boat.
- They have a child friendly version and a pet friendly version, catering to both niche markets.
- They have a car pool service.
- UberMoto lets you hire a motorcycle.
- They have a car sharing network that allows you to rent a subcompact or compact, an SUV or an extra large vehicle.
- Uber Eats provides the meal delivery service for Uber.
- Uber Freight matches shippers with truckers.
- They now offer their own credit card option!
With such a huge list of services it will be no surprise for you to learn that they are expanding into the air to connect planes, pilots and the consumer for private hire. The founder and former CEO Travis Kalanick has gone a long way since his initial idea of creating a car sharing app that made traveling cheaper!
It has been diversity and versatility that have made Uber into a Unicorn company; coupled with their ability to stay on trend and adapt to new markets. We can expect this to continue well into the future.