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How Uber Works Uber Business Model & Revenue Model

Uber operates as an on-demand transportation service, revolutionizing the taxi industry with its business model that allows users to request rides via smartphone. The company, founded by Travis Kalanick and Garrett Camp, has received $11.56 billion in funding and is valued over $70 billion, with a user base of more than 14 million. Uber offers various ride options and has expanded its services to include food and goods delivery, leveraging surge pricing technology to manage demand.

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HOW UBER WORKS UBER BUSINESS MODEL & REVENUE MODEL Uber business model is an on-demand transportation service which has brought a revolution in the taxi industry all across the world. The business model of Uber has made it possible for people to easily tap their Smartphone and have a cab arrive at their location in the minimum possible time. Uber is one of those few tech industries in the whole world that has been valued over $70 Billion. Uber has already received an equity funding of $11.56 Billion and is present in 70 countries.
Uber Founders, Funding received and Timeline: Founders: Travis Kalanick and Garrett Camp. Company Headquarters: San Francisco, California, United States. Funding received by Uber: $11.56 Billion. (As of April 2017) Company Valuation: Over $70 Billion.
Number of Users: More than 14 Million (as of 2016 end). Number of registered drivers: 2,90,000 (as of Dec 2016). Number of new driver sign-ups: 60,000 every month. Average number of daily Uber Trips: 2 Million (as of Dec 2016).
1. Different cab models to cater to everyone: Uber has not limited itself to a particular segment of cars or to a particular segment of people. There is Uber X, Uber Black for those human who love to travel in a black car, Uber Taxi for those looking for cost-efficient solutions and Uber SUV for those who want richness. 2. Surge Pricing Technology: Imbalance in cab rent according to different situation is an important aspect of Uber’s business model. Whenever the demand inclined, per mile cost are automatically increased. The new cost depends on the number of available drivers and the number of requests made by human who want to travel. Uber has applied for a price surge technology patent in the US. 3. Other Uber rides: Uber has come a big way from cabs. It now offers boats, food delivery, goods delivery, grocery delivery, helicopters, truck, self driving cars as well as some other transportation means on demand. Uber now launched a delivery service in San Francisco, motor cycle-pickup service in Paris, and an ice-cream-truck-delivery service in 8 other cities.
How and Why Uber became so successful:  The problem with local Taxis  The launch of Uber  The early adopters  Word of Mouth advertising  Main Growth opportunities tapped by Uber
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