Next billion cash infusion for Uber: The controversial dispatcher-broker gets $ 3.5 billion from Saudi Arabia , Thus Uber collected a total of eleven billion dollars, which are mostly used for the rapid international expansion. No other start-up has been getting as much money from investors.
enable the 3.5 billion dollars (3.1 billion euros) from the state investment fund PIF the recent round of financing was extended. She grew henceforth to 5 billion dollars and overall the start-up of San Francisco rated it at 62.5 billion dollars. PIF therefore gets therefore a share of approximately five percent. A top manager of the Fund, Yasir Al Rumayyan, draws to the Board of Uber one, as the company announced late Wednesday.
The entrance to the be prelude to a strategic partnership and is part of the long-term plan “vision 2030″, which the Saudis want to become less dependent on revenue from oil sales. Recently a co-operation with the US industrial giant General Electric was to already agreed.
The most important thing about Uber
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Who’s Who?
“22″Uber, actually Uber Technologies Inc, founded in March 2009, launched its service in 2011 in San Francisco. Initially the offer was limited to a chauffeur service ( “Uber Black”), which provided for a slightly higher price sedans as an alternative to the then notoriously scarce in Silicon Valley Taxis. The company expanded but fast in other US cities, from 2012 onwards and internationally, and has also expanded its services. In many US metropolitan areas and since November 2015 in London Uber drivers can take multiple passengers traveling and form a kind of taxi on time; customers share the prize ( “Uber Pool”). The most successful among customers, but also by far the most controversial service is UberX (in Germany until April 2015 for the “UberPop” offer). The customer can recruit located on his smartphone near private individuals who promote him for money with their car, mediated by Uber. Usually Uber undercuts so the price of a taxi ride comparable to 25 to 40 percent. Uber is now regarded as the most highly valued startup in the world; after the recent venture round is the value of the company, which is now operating in 51 countries, estimated at 62 billion US dollars. Sales are expected to grow rapidly, but Uber still writes high losses.
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How works About?
the customer is on his cell phone in the desired pickup location. After entering the destination available Uber drivers appear near its location as a small car icons in the app. Now On request the expected fare can be displayed. After the customer has ordered the ride authentic, the Uber-drivers get the driving intention velvet route displayed on their app. Assuming a driver, the passenger whose valuation looks by previous customers, the car type and name of the driver.
The core product is, technically speaking, the routing of the driver for possible attractive and next customer , Because the system works with GPS, the fare can be roughly predicted and a meter is not necessary. After the trip, the customer is in turn asked to evaluate the driver. To pay it does not care; which is debited automatically from the package lodged with the first application credit card or PayPal.
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What is the controversy?
in particular, the peer-to-peer service, carrying at the individuals other private citizens for money, it is the is vigorously opposed by taxi companies. In Germany it is since spring 2015 even completely forbidden, since courts followed the arguments of the taxi industry. The arguing unfair competition: In UberPop (in other countries UberX) often part-time drivers are checked only on their traffic points account and a Certificate of good conduct while taxi driver a passenger transport license, health checks, special insurance and (if they want to start their own business) in many cities require an expensive license. The Uber-car only needs to be less than ten years, have four doors and trunk and of course be roadworthy while taxis are specially tested.
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What is the state of things?
Due to the particularly high regulatory hurdles and the many lawsuits and injunctions and bans in court could Uber this country after entering the market in some cities not acquire sufficient driver. From Hamburg, Frankfurt and Dusseldorf to Uber moved now back. Over there are currently only in Berlin and Munich, where the services are limited, however, to transfer a traditional taxis via Uber app or a chauffeur. The most attractive from many customers run because cheapest service (UberPop) is currently not available in Germany.
the Middle East and North Africa include loud Uber of the fastest growing markets for the company. 19 000 drivers are there now, according to information for the company in operation. In Saudi Arabia, Uber has been active since, 2014. Around 80 percent of the passengers were women – not even allowed to driving there
In Uber can order vehicles with a driver about an app.. Founded six years ago Start-up-stretched worldwide with authorities and taxi industry, is among investors but long at a premium. Just a few days of the entry of Toyota was known. That was part of a wave of investments large auto companies to drive services. So Volkswagen initially invested $ 300 million to uber-rival Gett to be the basis for the mobility business in Wolfsburg.
The auto industry to prepare the company for a future in the car strengthened briefly used instead to buy. Uber relies on a global presence – with the app should be able to quickly call anywhere in the world a vehicle
The competition tries that with transnational. to counter partnerships. So there is a global alliance of the US company Lyft, Didi Chuxing in China, Ola from India and active in Southeast Asia Service grave taxi. In Lyft Opel’s parent General Motors earlier this year put $ 500 million will jointly test robot taxis. Didi, the Competitor of Uber in China, was one billion US dollars of Apple. The iPhone Group is said to have ambitions in the automotive sector in media reports.
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