Last week Uber, closed a mega-deal with Google Ventures, securing over $250 million in first round funding! If you haven’t heard of Uber, you certainly will, and if you have, you may not know the real deal with Uber, or more accurately that Uber is the real deal in transforming transportation as we know it, at least that’s part of their goal.
In the relatively short time that Uber has been occupying offices at ROC in the prominent downtown Santa Monica location they have grown faster than the speed limit and have plans in the future of building out their own customized space, ideally near the ROC location they currently use. The company is based in San Francisco but has branched out according to need and demand. The environment of the hot and emerging Silicon Beach tech and entertainment scene in Santa Monica is ideal global positioning for Uber who is a group of intelligent, young and savvy entrepreneurs.
As Uber described on their website they are about to embark on the next phase of their journey, and the money is the “fuel that makes it a reality” furthering their efforts in urban areas. Besides money, there is knowledge and expertise gained in this deal. Uber now has added support on their board from David Drummond from corporate development at Google SVP and David Bonderman, founding partner of TPG Capital and David Trujillo of TPG as well. For further explanation of the roles these strategic partners will have Uber has established a response to the media in an article titled Bits & Atoms on their websites blog.
Uber was just founded in 2009 and now has a global presence with their transportation application. The services that Uber provides fill a niche that had never been formally recognized, or capitalized upon. Uber is a technology company, first and foremost, but they are also a transportation service company, not only for those needing transportation, but for professional drivers as well. For both driver and rider, far too much time is wasted in the current system of auto transportation. Uber’s app gives instant results in over 17 countries, offers a variety of options such as a taxi, UberX, Black car, and SUV in easy phone app, available on iPhone, Android and Blackberry.
Things are going well, dare say, uber well for the talented ride servicing app crew, who have a large job ahead navigating individual states regulations, essentially their rules of the road and licensing considerations in the US and around the globe. Getting people where they need to go faster and more efficiently, keeping professional driver’s fare counter counting and the service eliminates the need to fumble with cash or credit cards, which is a huge benefit to the rider whose credit card is charged, and to the driver, who needn’t worry about carrying too much cash. Their motto of providing everyone’s private driver does cost a little more than a taxi, but is worth it for providing efficiency with elegance.