Uber Business Model As popularly known today, Uber is an on demand taxi booking app startup. It partners with cab drivers and provides a single tap cab booking option to riders for a convenient drive in and around the city. While Uber started with just one city in the United States, it currently operates in 633 cities worldwide. Uber today is worth over $60 billion in private valuation.

All the cabs are owned by drivers – drivers sign up with Uber and become part of the Uber network. Riders have a separate app using which they can request for a ride. The nearest driver who is currently active at the time of the request in the nearby vicinity will get the first incoming request notification.

Uber got its first beta ready in May 2010 and Uber’s services and mobile app officially launched in San Francisco in 2011. Initially the company only allowed users to hail a black luxury car at 1.5x the price that of a taxi.

UberX – In early 2012, Uber started allowing partner sign-ups for drivers who had their own cars, subject to a background check and some minimum car requirements. From 2009 to now in 2012, the service was operating in 35 US cities.

UberPOOL – In August 2014, Uber started carpooling service called UberPOOL with a beta test first, again, in San Francisco. The ride sharing (a.k.a. carpooling) concept is where the riders are matched with other riders who are traveling in the same direction – the app will share the first name of the other rider and the planned route. The price of the carpooling service is naturally less than traditional on demand taxi booking service.

With the recent funding rounds, Uber’s valuation has reached to top US$68 billion, however the latest round coming from Softbank is highly speculated as an under round for Uber, bringing its private valuation down to around US$60 billion.

Uber Clone is a prominent On Demand Taxi Booking Script empowered by NCrypted Websites through which you can get started with your own on demand website or app similar to Uber.

How does Uber make money?