Uber - the Most Valuable Private Company Source: Diginomica

Uber has become one of the most valuable private international companies that offer mobile rides. It’s headquarter is located in San Francisco, California. It is a transportation company that was created by Stumble Upon in 2009. Because of the services offered by the company, the management received huge funding in their founding year and more funding in the next year.

The main service provided by the company is an android phone application that is used to connect the drivers with people who want to ride from one place to another. The concept is like carpooling. This application is not only in North America, but it has also been playing a vital role in Africa, Europe and many other countries.

The prices set by the company are reasonable compared to the taxi charges of any region. Most of the time, the travelling price depends upon distance covered by the driver to reach to the destination. The amount for the travel is automatically charged on the passenger’s credit card which has been registered and accepted by the company.

Uber has just recently received many complaints by riders who were charged exorbitant fees over the Christmas and New Years weeks. Uber defends the charges saying that the charges are set according to the number of drivers available and the number of customers waiting for rides. They say they set the charges high to attract more drivers. This has not comforted riders who were charged thousands of dollars for short city rides on New Year’s Eve.

 

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