Uber Technologies News
Uber Technologies is an American company created in 2009 in San Francisco by Travis Kalanick and Garrett Camp. That same year, the company launched its mobile application, which enables users to order and pay for taxis and even hire private drivers. Using the company's application, Uber customers can reserve a vehicle and driver, which they can then track using the in-app route map. Uber receives 20% of the price of users' journeys, with the remaining 80% going to their drivers.
Users were initially limited to a small selection of exclusively business class models, but eventually Uber expanded its pool of potential taxis to include more economy vehicles. It was then that the company decided to take its business international and its mobile app is now active in numerous countries the world over.
Uber is a fast-growing company that is constantly adding new innovative services, some notable examples being helicopter trips within Brazil and the development of its own satellite navigation interface.
In 2017, Uber signed a merger agreement with Yandex Taxi, a provider of unified online taxi-booking services within Russia.
After 14 funding rounds, Uber has been able to attract around $11.5 billion in venture capital investments. Given the level of investor interest in the company, shares in Uber could represent an asset with good long term prospects.