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2008 Paris Conference, Garrett: push a button and a car shows up
Transportation, something everyone uses, making it fancy.
Uber - Managing Information Systems
Ajoy Infant Raj
Antoinette Monisha Paiva
Quick Introduction of Uber
Emergence of Braintree
Surge Pricing Model
M- commerce Mapping
Uber- Self Driving car
UberCab 2009: CEO Travis Kalanick & Garrett Camp
2010 : iOS & Android app released
2011: raised $50M from investors
Menlo Ventures, Goldman Sachs, Bezos Expeditions
2012: experimental UberTaxi in Chicago
Early 2013: experimental UberChopper ($3000 !!)
Sept 4, 2013: First Sports Deal – NFL Partnership
Reach a more mainstream audience
From San Fran in 2010 to 19 countries (35 cities)
NYC, DC, Baltimore, Detroit, UK, France, Singapore, New Delhi, Taipei
As of Dec 2014, valued at $40B
Including Google Ventures’ $258M investment
Estimated 2013 Revenue: $125M
Expected to hit an annual revenue run rate of $10 billion by the end of 2015
Uber is expected to generate $10 billion of which it keeps $2 billion in the next year or
Uber is now in 60 cities around the world
~300 Employees (not including drivers)
CURRENT STATUS OF UBER
Kalanick's close friend and Uber investor Shervin Pishevar explained Uber's
grand vision to Inc: "Uber is building a digital mesh - a grid that goes over the
cities. Once you have that grid running, in everyone's pockets, there is a lot of
potential for what you can build as a platform. Uber is in the empire-building
UBER'S GRAND VISION TO INC
One thing: RIDES!
“Everyone’s private driver”
One thing, and doing it well.
Constant Customer interaction for improvements
Focus on experience: Consumer willing to pay premium
Uber has no drivers natively
Drivers join the network, get paid and Uber takes a commission (20%)
HOW IT WORKS?
Uber before Braintree – Authorize.net
Uber switched to Braintree in February 2011 for all of its international and
U.S. based payments.
Client side encryption
Bump in sales
July 2011 to July 2012 – 26% increase monthly
16 times larger revenue over the previous year
BRAINTREE - UBER
Before heading to Dynamic Pricing, there are certain specifics on
Uber is a marketplace and Uber’s drivers are all independent agents.
The majority of Uber fares go to these independent drivers
Committed to being a low-price leader
Uber’s dynamic pricing (“surge pricing”) affects a tiny minority of all Uber rides, less than 10% of
Uber is remarkably transparent about its dynamic rates
Fares have increased to encourage more drivers to come online & pick
up passengers in the area
DYNAMIC PRICING MODEL