Founded in 2009, Uber is a ride sharing service with Head Quarters in San Francisco. The company was founded by Travis Kalanick & Garette Camp and is now worth about $18.2B after its last round of funding.
In just 5years, the company has positioned itself strategically to serve the world. Uber is what you call a text book case Disruptor. Not just in terms of the generation of founders and users involved by with respect to the amount of protests around the world thier business has sparked. You know you are a disruptor when traditional communities begin to kick against your business activities.
Taxi Drivers in Germany, France and England have staged fierce protests against Uber because they claim the company uses unfair business practices and endanger the lives of its customers. How? i wonder, but for the unfair business practices i totally get that since Uber with its technology and service spares us the exorbitant prices from traditional cabbies.
The company initially founded as Ubercabs, uses an iOS & Android based application to connect customers with potential pre-certified drivers and cars. The App was launched a year after and the company and has since raised capital in a series of funding deals with angel investors totaling about $11B.
Uber has faced regulatory opposition so far from Belgium, canada, Australia, Germany, India, Philippines and the United Kingdom, and the general bones of contention for them has always had to do with the disadvantage the service puts on Local taxi operators. In this brief piece i would like to share 10 things you didn’t know about Uber:
1. Uber has a 3 employee per city policy it operates in meaning that if for example it operates in 6 Nigerian cities, it has 18 employees. ( Lesson: Keep your overheads down)
2. Uber was founded by a college dropout Travis Kalanick & ‘StumbleUpon’ founder Garrett Camp. ( Lesson: a Degree can be a self imposed limitation or a key to a bigger picture)
3. Uber rates its users which is weird considering that customer care is usually the other way round.
( Lesson: may be you don’t need ever client, some customers will destroy your business if you let them)
4. Uber offers free rides and heavy discounts for new and existing customers.
(Lesson: Everybody likes freebies, it builds product loyalty)
5. All über drivers get new iPhones
6. Uber has a no cash policy (Lesson: Plug potential financial leaks especially if you are in a mass market business)
7. Every time you patronize Uber you send money out of the country
8. Uber doesn’t own any cars, it serves more as a broker ( Lesson: why buy it when you can borrow it and make money off of it?)
9. You will never find Uber branding on the UberBlack cars ( Lesson: most customers appreciate secrecy and discretion)
10. Drivers get paid seven days after you have taken your trip after the money has been re routed through an Uber bank account in Amsterdam, then to the US at Wells Fargo.
Overall i think there are global smart business practices to learn from this company. The first step to building a global brand is to have a great and grand idea first then through a process of 'Glocalization' adapting your great idea to local communities you have to operate in. I hope you get to work on that fabulous idea and remember that the best time to start that business is now.
- @gozzim
sources: wikipedia, IndiaTimes
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