Uber is now dominating the taxi industry, which for decades had been led by local cab companies in countries around the world. How did the megacorporation completely change the industry in just a few short years?
The proactive entrepreneurs Travis Kalanick and Garrett Camp continuously sought sources of investment for their app prior to and during its launch in 2010 – raising $44.5 million for international development. Their quick expansion worldwide allowed them to quickly gain an audience before any competition could develop.
Launching in San Francisco was not by chance either. The taxicab market in the area was performing poorly, with the lowest taxi usage rates in all of the US. However, due to San Francisco’s highly interactive tech community who are eager to discover the next new trends, Uber quickly gained notable recognition.