Uber is offering rides to thousands of London residents to reign the market
In London, Uber is downloaded by 30,000 people every week to theirsmartphones and request a ride for the first time. The American application based cab service provider, which is valued at $60 billion, knows this moment “conversion”. It has used its ride-sharing platform in 400 cities across the world since it was launched in San Francisco on May 31, 2010, which indicates that it is introduced in a new transportation market every 8 hours and 5 days.
When one uses its service initially, it sets great store as Apple does by paying attention to one’s first encounter with any of its products. With the transporter, the feeling must be plenty, and one should be assured that one would always have a driver when needed.
When a user opens the application, the logo of Uber flaps briefly prior to the disclosure of the city streets around him/her, and the grey, still promising shapes of automobiles moving nearby. This invokes a sense of abundance making one think that the company has been continuously here, that its foothold in one’s neighborhood is to a certain extent ordained and natural.
However, this is not the case. To serve its customers in the city, the company flies in a small group, called as “launchers” and recruits its first local worker, who is tasked to recruit riders and find driving partners. In London, that used to be a young Scotland based banker called Richard Howard.
Richard was 27 and had recently been made redundant by HSBC Holdings, where he used to sell credit default swaps, a type of derivative, which turned notorious during economic crisis. He grew up in Glasgow, where his father used to sell musical instruments.
The bonus-driven investment-banking atmosphere did not suit Howard. In November half a decade ago, he had a feeling that tech company should be upcoming thing, When he left that job in Nov 2011, he discovered the glimmers of technology. He started to trawl tech news and like many people, was hit by reports that financing round for Uber was being held in the upcoming month.
It was not merely the money – a value of $300 million for an organization that he had continuously been running for 1 year and 5 months – but the serious attitude of the involved players: Goldman Sachs, Menlo Ventures and Amazon’s founder and CEO Jeff Bezos.
Uber technologies started as a luxury service provider. “Everyone’s Private Driver” was its tagline. The origin myth of the organization is that its two founders Travis Kalanick and Garret Camp, came out of a technology conference known as Le Web in Paris in Dec 2008 and could not get a taxi.