Uber: A Start-up of Starting Trouble
Why Is It So Controversial?
When Garrett Camp and Travis Kalanick created the ride-hailing app Uber, they didn’t know what was in store for them. Uber was founded in 2009 and has grown to become the most valuable startup in the world, valued at a massive $70+ billion.
If investors knew the growth rates of Uber back when it started, it would have been highly overfunded. The ride-hailing company is generating billions of dollars worth of investment each year, but for what? Uber is not making any profit. In fact, they are losing billions of dollars each year. Still, its massive growth rates and revenue streams are making it an interesting investment opportunity for the long-term. Not for the public, however.
Uber’s aggressive marketing style has been the motor of its exponential growth. Revolutionary ways of redefining business models and marketing strategies have blown away the conventional ideas of doing business. But the longer it lasts, the more it seems to backfire. The ethics of its business are questionable. Users, employees, governments and municipalities have outed their dissatisfaction with the billion dollar company.
That’s not without reason. Scandals, misbehaviour, and rule-breaking have replaced the impressive growth figures in the headlines in the media. Market Inspector created an infographic that highlights why Uber’s image has become so controversial.