Although it faces lots of obstacles this is the company received more fund from venture capitalists over this year. A simple mobile app taxi booking model pledged to people and cabbies with a single tap, however it creates more controversy on how it receives more money.Is it really worth of an investment in Uber?
It is an easy and simple mobile app used to hail cabs through online and it has a big market over 250 cities in 50 countries. People can book their local taxi or limo by tapping mobile application in Asia, America and European countries. Typically numerous people using online to connect other people, the same notion applied in Uber to connect passenger and driver each other. More people are using Uber application so cabbies are attracted to use it for cab hailing as well as more cab companies using the Uber driver app so people want this app to make taxi booking simple.
Uber gradually increasing their brand in several business models like courier/delivery services and also it will take private car companies for rental. This is the huge feedback and the loop hole of its fundraising strategy.
Uber also faces a lot of regulatory issues and abusing taxi ride rules and regulations. Even though the mobile booking model became successful, sometimes it feels like loss for ever. Every day it competes with many uber clone apps like Hailo, Taxi Mobility and lyft, which was founded after uber’s success. The CEO of PrivCoUber Sam Hamadeh says that uber not yet disclosed any financial statistic about $40 billion valuation so don’t justify its value.