Uber is a transportation network company based in San Francisco, California, United States, operating in 570 cities worldwide. In 2016, the company was valued at $62.5 billion. The company uses its technology to connect drivers with riders via the company’s mobile applications.

Uber’s technology allows the company to categorize their drivers into three categories: “aggregators”, who are not officially employed by Uber but have been approved to use the Uber technology; “partners”, or self-employed individuals who have passed a background check and vehicle inspection; and “black cars”, which are licensed by local governments to offer taxi service on demand.

According to CNN Money, as of March 2016, Uber was generating gross revenue of $1 billion per month globally.[7] In August 2014, a study by data scientists from Stanford University and New York University (NYU) estimated that more than 100,000 taxi drivers in Chicago were using UberX to supplement their income.[8] In November 2014, Uber announced it had signed up 1 million users in London within two months of launch there.[9] In August 2015, the service was launched in Mexico City.

Last modified: October 1, 2022