Mar, 2009 to Present
San Francisco, California, U.S.Uber Technologies, Inc., commonly known as Uber, is an American multinational ride-hailing company offering services that include peer-to-peer ridesharing, ride service hailing, food delivery (Uber Eats), and a micro-mobility system with electric bikes and scooters. The company is based in San Francisco and has operations in over 785 metropolitan areas worldwide. Its platforms can be accessed via its websites and mobile apps.
Uber announces it has raised $37 million in Series B round, including investors such as Goldman Sachs, Menlo Ventures (with Shervin Pishevar and Shawn Carolan co-leading Menlo's investment), and Bezos Expeditions.
Uber confirms it has raised $1.2 billion in a Series D round, with a pre-money valuation of $17 billion. Key investors include BlackRock, Google Ventures, Kleiner Perkins Caufield & Byers (with partner Megan Quinn), Menlo Ventures (Shawn Carolan), SherpaVentures (with partners Shervin Pishevar and Scott Stanford), Summit Partners, and Wellington Management.
On November 17, 2014, BuzzFeed editor-in-chief Ben Smith reported that Uber senior executive Emil Michael "outlined the notion of spending 'a million dollars'" to hire four top opposition researchers and four journalists. He said that team could help Uber fight back against the press by looking into "personal lives, your families". Michael was particularly focused on journalist Sarah Lacy, who accused Uber of “sexism and misogyny". Lacy wrote a sharp response critical of Uber's actions.
Uber confirms it has raised $1.2 billion at a $40 billion pre-money valuation in a Series E round. Key investors include Qatar Investment Authority, Valiant Capital Partners, Lone Pine Capital, New Enterprise Associates, and SherpaVentures.
Chinese search technology company Baidu announces a $600 million strategic investment in Uber, also classified as a continuation of the Series E round, thereby bringing the Series E total to $1.8 billion.
Uber opens robotics research facility In Pittsburgh to build self-driving cars. In May, Uber poaches 50 employees from Carnegie Mellon's National Robotics Engineering Center.
Didi Dache and Kuaidi Dache, the two biggest players in the low-cost app-based taxi hailing market in China, announce a merger into Didi Kuaidi. The merged company would be significantly larger than Uber in China.
Uber raises an additional $1 billion in its $40 billion pre-money valuation Series E, increasing the total Series E money raised to $2.8 billion (after adding the first $1.2 billion and the next $600 million raised from Baidu). The additional investors are Times Internet, Foundation Capital, and Accelerated IT Ventures.
UberFRESH, which launched in the Los Angeles area in August 2014, rebrands itself as UberEATS. The rebranding is linked to an effort to rapidly expand to other areas. The service is already available in New York City and Chicago and plans to expand to many other locations.
It is announced that Uber has completed a Series F round, raising $1 billion at a $50 billion pre-money valuation (so a $51 billion post-money valuation). Key investors are Microsoft and Bennett, Coleman, & Co, Ltd., the parent company of The Times Group, India's largest media conglomerate.
Uber raises $100 million in private equity from the Tata Opportunities Fund, a fund of the Tata Group in India, with the goal of using the money to help it double down on its India operations.
Chinese Uber competitor Didi Kuaidi, the entity formed through the merger of Didi Dache and Kuaidi Dache, raises $3 billion to move more aggressively in its battle to maintain market dominance against Uber in China.
On May 9, Uber and Lyft cease operations in Austin, Texas. This is in response to a city ordinance upheld by Austin voters on May 7 that would require drivers for Uber, Lyft, and other transportation network companies to get fingerprint checks, to have their vehicles labeled, and to not pick up and drop off in certain city lanes.
Uber announces that it is changing its app to inform riders of the price of their ride when they book it, rather than simply providing a surge multiplier. The move is prompted by the observation that UberPool users, who do see the ride price upfront, are more likely to continue using the service. Price changes triggered by destination changes will be sent to riders in real time. Changes to routes due to traffic or other reasons not under the rider's control will not result in a change to the price charged upfront. The move is not an end to surge pricing but rather a change in the way the surge pricing is communicated to customers. The change, officially announced in late June, had already been rolled out at the time of announcement in several cities, and had received some commentary in May.
Uber opens up the Uber RUSH API to developers. The goal of this API is to make it easy for merchants to integrate the use of Uber drivers into their delivery system. The tool has been used by select small businesses since October 2015, and the opening up to the public is to encourage more widespread adoption.
Didi Chuxing (formerly Didi Kuaidi), the dominant player in China's ridesharing market, agrees to buy Uber China, Uber's business in China. The Uber brand will be retained, but Didi would “integrate the managerial and technological experience and expertise of the two teams.” Uber reportedly lost $2 billion trying to make inroads in China.
Uber announces plans to launch service with self-driving cars in Pittsburgh, Pennsylvania, where its robotics research facility, built with employees poached from Carnegie Mellon University in 2015, is located. The cars are modified version of the Volvo sports utility vehicle equipped with Uber's technology for self-driving. Cars will have drivers at the wheel, monitoring the vehicle, as required by law. The move is seen by commentators as the first step in Uber's ambitious goal of replacing its entire fleet with autonomous vehicles.
Uber launches a redesigned rider app, with a simplified user flow that focuses on identifying the destination first, then shows ride options with prices, and then gives driver contact information and allows riders to make adjustments such as split fare and get more information about the destination. The app also connects better with the user's current location, real-world identity, favorite places (such as work and home) and integration with services such as Foursquare and Yelp for destination-specific information, in what is seen as an attempt to pull users into spending more time in the app.
In October 2019, in partnership with HeliFlight, Uber began offering a helicopter taxi service between Manhattan and John F. Kennedy International Airport.