About the Company
Uber Technologies, Inc., commonly known as Uber, is an American technology company. Its services include ride-hailing, food delivery (Uber Eats), package delivery, couriers, freight transportation, and, through a partnership with Lime, electric bicycle and motorized scooter rental. The company is based in San Francisco and has operations in over 900 metropolitan areas worldwide. It is one of the largest firms in the gig economy.
Uber is estimated to have over 93 million monthly active users worldwide. In the United States, Uber has a 71% market share for ride-sharing and a 22% market share for food delivery.
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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.
After Camp and his friends spent $800 hiring a private driver, he wanted to find a way to reduce the cost of direct transportation. He realized that sharing the cost with people could make it affordable, and his idea morphed into Uber. Kalanick joined Camp and gives him "full credit for the idea" of Uber. The prototype was built by Camp and his friends, Oscar Salazar and Conrad Whelan, with Kalanick as the "mega advisor" to the company.
In February 2010, Ryan Graves became the first Uber employee. Graves started out as general manager and was named CEO shortly after the launch. In December 2010, Kalanick succeeded Graves as CEO. Graves became chief operating officer (COO). By 2019, Graves owned 31.9 million shares.
Following a beta launch in May 2010, Uber's services and mobile app officially launched in San Francisco in 2011. Originally, the application only allowed users to hail a black luxury car and the price was 1.5 times that of a taxi. In 2011, the company changed its name from UberCab to Uber after complaints from San Francisco taxicab operators.
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 April 2012, Uber launched a service in Chicago where users were able to request a regular taxi or an Uber driver via its mobile app.
In July 2012, the company introduced UberX, a cheaper option that allowed people to use non-luxury vehicles, including their personal vehicles, subject to a background check, insurance, registration, and vehicle standards. By early 2013, the service was operating in 35 cities across the US.
In December 2013, USA Today named Uber its tech company of the year. In August 2014, Uber launched UberPOOL, a shared transport service in the San Francisco Bay Area. The service soon launched in other cities worldwide. In the same year, Uber also launched Uber Eats, a food delivery service. Then in August 2016, facing tough competition, Uber sold its operations in China to DiDi in exchange for an 18% stake in DiDi. DiDi agreed to invest $1 billion in Uber. Uber had started operations in China in 2014, under the name 优步 (Yōubù).
In August 2017, Dara Khosrowshahi, the former CEO of Expedia Group, replaced Kalanick as CEO. He is the company's CEO to date.
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