UBER is also known as Uber Technologies Inc. What makes UBER a special company is its model of business. The company combines both innovative communication technology and transportation. The founders of this company, Travis Kalananick and Garrett Camp developed the Uber Mobile App, which they transformed into a community of today known as Uber drivers. Through this app, users can submit their trip request. The trip request reaches drivers who confirm the schedule and attend to the customer. This company was founded as UberCab in 2009 in San Francisco, California, but in May 2015, the company was present in 58 countries and approximately 300 cities globally.
What makes Uber a special company is its contribution to safe and affordable ride sharing in a unique way. Uberification is a common word among businesses and economic analysts who are trying to understand or copy this company’s business model, which has achieved a net worth of $62.5B within six years of operation. Uber is currently updating its carpooling feature with a competitive DNA strategy of combining private car rides and mobile app technology. The Uber model of business is sure to change the taxi and cab hiring business as its impact is already being felt by a sharp decrease in the taxi medallions revenue.
Intensive and strategic marketing has made this company successful and popular within cities and among drivers. The company has created extra income for anybody with a car and who has extra time to share a ride. More and unique benefits of Uber include reducing traffic in cities and sharing rides to even those who need to be picked up or dropped in the most remote areas. This company has revolutionized the transportation business with a new form of ride-sharing, benefiting both customers and car owners. UBER promises more safety and guaranteed service for its stakeholders.