Fuels behind the successes and achievements

It is this very dilemma that UBER tries to overcome. Founded by Travis Kalanick and Garrett Camp, the company was born out of a situation Kalanick faced while in Paris in which he was unable to find a taxi to get to a conference. Realizing that this was an issue faced by countless travellers around the world, the duo decided to launch UBER Cabs. UBER Co-Founder and CEO Travis Kalanick explains, “In the beginning, it was a lifestyle company. You push a button and a black car comes up.

UBER started as an asset light enterprise that does not own a taxi fleet and has low operating costs. It acts as mediator between private/sub-contracted drivers and passengers, taking a 20% commission fee. UBER reduced pick-up times and prices as well as transaction costs through easy booking/paying and improved the consumer experience through offering an increased product range, high coverage as well as increased pay for drivers. Overall, UBER simultaneously pursued a differentiation and low cost strategy which enables superior customer value at lower operating costs.

Today UBER is the leader of transportation services around the globe, begins with a Series A funding of $11.5 Million and now the company is valued at $17 Billion. Undoubtedly, this is a once in a lifetime success story that can inspire every entrepreneur and only comes around once every decade. Crazy! From ideas to prototype then execution, UBER is now spreading happy faces in many countries across the world, including big nations United States, France, and Australia.