Uber Technologies is an American online transportation firm. The company operates the Uber mobile app that normally allow clients with smartphones to submit a trip request that is routed to Uber drivers who user their cars. Uber started in 2009 as a luxury car service in San Francisco and is now valued at $50 billion which operates in more than 58 cities around the world.
History of firm
The history of Uber goes back to 2008 when co-founders then and still friends were not aware that they would be at the head of one of the most successful start-up to date. Garrett Camp and Travis Kalanick are the founders of Uber. Garrett took the lead and went ahead to deal with a couple of ideas and prototyping several solutions and even engineering a mobile app for iPhone that could revolutionize the idea of getting around (Pullen, 2014). That did not take long before Travis joined in and working with Garrett on what later developed to Uber. As of January 2010, Uber already had black cars in the city of New York to test the service out. Soon, San Francisco joined to host the Uber, and this is how the company came to be a hit. By the end of 2011, Uber raised $44.5 million in funding, and it is not spreading happy faces all across the world.
Nature of business
Uber normally offer e-commerce services for car hire. The company has a website that normally allows the users to request a car for hire from the mobile device text message. The Uber drivers normally use their cars when providing taxi services and Uber gets 20% of the fare (Tacke & Ramanujam 2016). The process is very simple as registered Uber users ask for a taxi using the Uber app, the Uber driver then dispatched to the passenger’s location and helped the passengers to reach their destination (Kalanick, 2010). The credit card of the passenger is the sole payment method used. The drivers and the riders use their phone’s GPS capabilities to know one another’s location; thus, avoids the question of when the rise will arrive. Uber also offers several different levels of services with the service’s lowest cost option, UberX, run in everyday cars like Prius and Toyota (Pullen, 2014). The Uber Black is the original company’s services and costs a bit more, but run in high-end town cars with the professional drivers.
Uber target market is large including users with limited spending power and the wealthy people. However, its primary target market includes large groups and individual who are financially secure. Those people who consider using Uber as their form of transportation are usually in the middle of upper class, financially.
Sherry Roberts is the author of this paper. A senior editor at MeldaResearch.Com in custom nursing essay writing services