Uber

Uber, Inc. is a ride-hailing company that can be used on mobile devices. Founded in 2009, the company now offers ride to users in 58 different countries in over 300 different cities across the world. As of late 2015, Uber was valued at approximately $62.5 billion.

HISTORY In 2008, Garrett Camp, the founder of Stumble Upon, wanted to solve the "taxi problem" in San Francisco, CA. He approached entrepreneur Travis Kalanick, and the two created the initial prototype UberCab in March 2009. The service was test-launched in New York City in January 2010 with 3 cars. In July 2010, UberCab went live in San Francisco. The company changed its formal name to Uber in October 2010. That November, Uber was added to Android phones.

In December 2010, Ryan Graves stepped down as Chief Executive Officer, and Travis Kalanick stepped in as CEO. Graves became Chief Operations Officer. By February 2011, the company had raised over $11 million in funds from different investors. Uber was launched in New York City in May 2011. By the end of that year, Uber had raised over an additional $35 million.

In July 2012, Uber launched UberX, a hybrid vehicle service that is cheaper. By April 2014, Uber's services were offered in over 100 cities.