What Is Uber’s Business Model? How Uber Works? How Does Uber Make Money? What Is Uber’s Business Strategy? Why Is Uber so Successful?
These are some of the major questions any budding entrepreneur in the on-demand startup space would be curious about, before working on his/her own “Uber for X” business model.
And, rightly so.
Uber’s business model has turned out to be so successful and popular that it has fuelled a new startup economy, the “on-demand economy”.
Having a deeper understanding of Uber’s on-demand business model can play a pivotal role in modeling your own on-demand startup business idea.
As a leading on-demand startup technology development partner, we want to share this knowledge with you through this comprehensive blog post.
Before drilling down into “Uber’s business model” or “How Uber makes money?”, let us gain knowledge about some basics and interesting facts about Uber – from inception to being a multi-billion dollar startup.
Did you know that Uber was initially called as UberCab?
Originally, the app only had the option to hail a black luxury car.
Founders – Garrett Camp, Oscar Salazar, Travis Kalanick
Founding Year – March 2009
Headquarters – San Francisco Bay Area, U.S.A
Legal Name – Uber Technologies Inc. (Crunchbase)
Total Funding – $24.2B (In 22 funding rounds as of Oct 2018, Crunchbase)
Major Investors – SoftBank Vision Fund, Tencent Holdings, Toyota Motor Corporation, and others.
Current Valuation – $120B (Source – Bloomberg)
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