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This seems ridiculous.
Looking back since 2008 or so, with the possible exception of groupon, I can't think of a single $5+ billion dollar web 2.0 company that has crashed and burned. A significant number of these web 2.0 companies seem to have defied the ‘crash and burn’ that characterized the first boom. Pets.com and Webvan were pretty much failures from inception, but sites like Pinterest and Airbnb keep getting more successful and more…
Didn't somebody do the math and came up with $40B for entire taxi business globally?
That's just one anecdote, but my business wouldn't be counted as Uber taking part of the taxi market.
Wow.. I was curious if the pending employment law debates and changes were going to impact their valuation, it appears not.
Beauty of the private markets. Even if someone wanted to trade on bad news, they can't.
Earlier quoted context omitted.
Slightly confused; are you saying they should say they're more than 5 years old? 2009 was 5 years ago, and if that's when the company was founded, saying they're 5 years old makes sense.
2014: 1 year ago 2013: 2 years ago 2012: 3 years ago 2011: 4 years ago 2010: 5 years ago
Not necessarily.
Date diff today (2015-07-31) and (2014-09-01) is 4 years, 10 months, and 30 days.
Didn't somebody do the math and came up with $40B for entire taxi business globally?
I love when the press accelerates startup success, even among the most successful companies of all time. They want everything to be an overnight success. There is no timeline where Uber could be justified as being 5 years old. For example, there is a Techcrunch article [1] about the company launching the initial product over 5 years ago (which I'm sure took some time to develop!). Uber's website says the company exis…
Slightly confused; are you saying they should say they're more than 5 years old? 2009 was 5 years ago, and if that's when the company was founded, saying they're 5 years old makes sense.
Travis' LinkedIn says he has been working for Uber for: 6 years, 2 months
Crunchbase founding date of Uber (Mar 1, 2009): 6 years, 4 months ago
Last day of 2009 (conservatively based on Uber's about page): 5 years, 6 months ago
It is just very sloppy fact checking. They wanted to write the story about how Uber is the fastest growing company ever (which it very well might be), but they care much more about the headline than the facts. Again: this is one of the most successful companies of all time in terms of growth, and the tech press is still exaggerating it.
This is why you shouldn't compare yourself to the myths of other startup's success that are being written about by the press.
Didn't somebody do the math and came up with $40B for entire taxi business globally?
I love when the press accelerates startup success, even among the most successful companies of all time. They want everything to be an overnight success. There is no timeline where Uber could be justified as being 5 years old. For example, there is a Techcrunch article [1] about the company launching the initial product over 5 years ago (which I'm sure took some time to develop!). Uber's website says the company exis…
Their Delaware date of incorporation is actually 7/2010.
Didn't somebody do the math and came up with $40B for entire taxi business globally?
Before uber I'd spend maybe 200 bucks a years on cabs. Now I take on almost daily.
Also 1 billion for 2% of Uber doesn't necessarily mean it's worth 50 billion because there might be liquidation preferences.