![]() Uber services are reachable through an Uber mobile app. Some would ask – how is that even possible, it’s just an app!? Let’s dive into how. Not all their spending goes to building and maintaining features for their mobile apps, but a large portion of their total spending does. ![]() Uber recently announced their first post-IPO quarterly results, losing $1 billion in the past three months. On the next year, just 3 years after the young men came up with the idea, everybody in Paris were able to find a taxi with the click of a button. In 2010, the first car ride was made possible in the city of San Francisco. What if people could request a car ride from their phone? One year later, Travis and Garret created UberCab, a smartphone app that lets people get a ride just with the help of a button. Two young men Travis Kalanick and Garrett Camp were in need for a taxi, but they couldn’t find one. But let us bring you back in the years when the Uber App was created.Ī snowy evening in Paris, France. ![]() We argued that a company like Uber that has never flipped a serious profit could never be a $100bn company, and as of writing this, Uber Technologies Inc (UBER) is trading at a market cap of $68bn. Not long ago, we begged the question whether Uber was really worth $100bn that they sought out to achieve. ![]()
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