Uber
Uber is a global transportation company. It was founded in 2009 by Travis Kalanick and Garrett Camp. It first launched in San Francisco and allows users to request rides through a mobile app, connecting them with nearby drivers. This is to make transportation more accessible and efficient and to promote shared mobility.
In 2010, Uber launched its services in New York City, which marked its first expansion outside of San Francisco. Later in 2011, it expanded to Paris and France, and then to London and the UK in 2012.
Uber officially launched its services in India in August 2013, starting with the city of Bangalore. By December 2013, it expanded to over 60 cities globally.
Uber kept expanding with its consistent new launches, such as UberX (in 2012), UberPOOL (in 2013), UberEATS (in 2014), UberMOTO (in 2015), and self-driving cars (in 2016).
In 2017, Dara Khosrowshahi became its new CEO and the next year, the company filed for an IPO. In 2019, Uber went public and reported a significant loss. It then went on to launch Uber Money.
The same year, it announced its commitment to invest $1 billion in India over the next few years, started experimenting with electric vehicles (EVs), and partnered with EV manufacturers.
In 2020, the COVID-19 pandemic severely impacted Uber's ride-hailing business in India, leading to a significant decline in ride bookings. The same year UberEATS merged with Zomato, another food delivery service.
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Report
India’s short-form video market now engages close to 250M monthly users: report
Sai Keerthi | November 21, 2024
Since the ban of TikTok in mid 2020, SFV platforms have seen a 3.6x increase in daily active users, the report added.
Startup Ecosystem
Fintech product delivery in 10 minutes: Invincible Ocean introduces no-code solution for onboarding
Shubhangi Mishra | November 21, 2024
Ajay Setia, CEO, Invincible Ocean, underscores the unique features of the company’s new AI-driven no-code platform, which stands apart from existing no-code and low-code options.
App
PhonePe becomes the Top-Rated app on the Apple App Store in India
Brand Solutions | November 20, 2024
~ With 6.4 Million ratings and an average of 4.7 stars, surpasses YouTube, Instagram & WhatsApp ~
Books
5 must-reads for understanding Elon Musk’s mindset
Saniya Ahmad Khan | November 20, 2024
Explore the Elon Musk reading list—5 books that reveal the philosophies, strategies, and inspirations fueling the mind of this iconic innovator.
Funding
Mayank Bidawatka’s Billion Hearts raises $4M in seed funding round led by Blume Ventures
Bhuvana Kamath | November 20, 2024
The funding follows an earlier angel round of ~$250K from prominent startup builders, including those who have built startups such as redBus, Ola, InMobi, Flipkart, and Myntra.
Daily Capsule
Tech stack for EV firms?; Flipkart pushes Walmart Q3 numbers
Team YS | November 20, 2024
Ather Energy Co-founder and CTO Swapnil Jain believes a two-wheeler OEM would find it very difficult to justify the business case for manufacturing its cell, especially in an industry of high capital expenditure and low margins.