![]() In August 2016, facing tough competition, Uber sold its operations in China to DiDi in exchange for an 18% stake in DiDi. Uber logo used from February 2016 until September 2018 In August 2014, Uber launched Uber Eats, a food delivery service. The service soon launched in other cities worldwide. In August 2014, Uber launched a shared transport service in the San Francisco Bay Area. In December 2013, USA Today named Uber its tech company of the year. By early 2013, the service was operating in 35 cities. In July 2012, the company introduced UberX, a cheaper option that allowed drivers to use non-luxury vehicles, including their personal vehicles, subject to a background check, insurance, registration, and vehicle standards. In April 2012, Uber launched a service in Chicago, whereby users were able to request a regular taxi or an Uber driver via its mobile app. The company's early hires included a nuclear physicist, a computational neuroscientist, and a machinery expert who worked on predicting demand for private hire car drivers. In 2011, the company changed its name from UberCab to Uber after complaints from San Francisco taxicab operators. Originally, the application only allowed users to hail a black luxury car and the price was 1.5 times that of a taxi. įollowing a beta launch in May 2010, Uber's services and mobile app launched publicly in San Francisco in 2011. By 2019, Graves owned 31.9 million shares. Graves became chief operating officer (COO). In December 2010, Kalanick succeeded Graves as CEO. Graves started out as general manager and was named CEO shortly after the launch. In February 2010, Ryan Graves became the first Uber employee, receiving the job by responding to a post on Twitter. The prototype was built by Camp and his friends, Oscar Salazar and Conrad Whelan, with Kalanick as the "mega advisor" to the company. Kalanick joined Camp and gives him "full credit for the idea" of Uber. He realized that sharing the cost with people could make it affordable, and his idea morphed into Uber. Īfter Camp and his friends spent $800 hiring a private driver, he wanted to find a way to reduce the cost of direct transportation. In 2009, Uber was founded as Ubercab by Garrett Camp, a computer programmer and the co-founder of StumbleUpon, and Travis Kalanick, who sold his Red Swoosh startup for $19 million in 2007. Travis Kalanick, former CEO of Uber, in 2013 The legality of Uber has been questioned and subsequently banned in multiple countries. The company has been criticized for various unethical practices and for ignoring local regulations. Like similar companies, Uber has been criticized for the treatment of its drivers as gig workers and independent contractors, disruption of taxicab businesses, and an increase in traffic congestion. Uber has posted hundreds of millions or billions of dollars in losses each year since 2014 except for 2018, when it exited the markets in Russia, China, and Southeast Asia in exchange for stakes in rival businesses. Uber has been so prominent in the sharing economy that commoditization of service industries using computing platforms has been referred to as uberisation, and several startups have described their offerings as "Uber for X". In the United States, as of January 2022, Uber had a 71% market share for ride-sharing and a 27% market share for food delivery. In the fourth quarter of 2021, Uber had 118 million monthly active users worldwide and generated an average of 19 million trips per day. The different types of options gives customers more flexibility when choosing a ride. Uber Comfort guarantees a newer vehicle with more leg room. Uber Black drivers have to be highly rated and drive more luxurious vehicles then UberX and UberXL. UberXL's are usually a SUV sided vehicle and can accommodate up to 6 people. UberXL, Uber Comfort, and Uber Black are other options offered by the company. UberX is the most popular and the standard service of the company. Uber offers many different types of ride options. Fares are quoted to the customer in advance but vary using a dynamic pricing model based on the local supply and demand at the time of the booking. Uber does not own any vehicles instead, it receives a commission from each booking. Its services include ride-hailing, food delivery ( Uber Eats and Postmates), package delivery, couriers, freight transportation, electric bicycle and motorized scooter rental via a partnership with Lime, and ferry transport in partnership with local operators. ![]() It is based in San Francisco with operations in approximately 72 countries and 10,500 cities. ( Uber) is an American mobility as a service provider. An Uber driver in Bogotá, Colombia with the Uber app on a dashboard-mounted smartphone
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