Christmas is a that time of the year which brings along a sense of joy and happiness among one and all. Among others Christmas this year was specifically special for Uber since, Uber crossed the one billionth ride mark since its inception, with Marvin booking the taxi ride in London in Ara’s Honda.
The on-demand transportation app, which is currently looking forward to raise $2.1 Billion to fight off stiff competition, is celebrating the one billionth ride by awarding 10,000 pound worth Uber rides free to Marvin, the passenger. The driver, Ara too gets a paid vacation to a Uber city of his choice.
In addition to the above gesture, Uber made a donation towards The Hackney Pirates, a literacy charity in Marvin’s home neighbourhood.
Uber is currently valued at a whopping $62.5 billion, making it the most valued privately held tech start-up globally. The company is currently on an aggressive expansion mode, and in the process has experienced some pretty serious obstacles though. As on Jan 2015, more than 160,000 people drive for Uber(14% of which are women) in more than 50 countries and 290 cities.
Uber has been making efforts to gain a massive market share in its primary regions-USA, India and China. It faces formidable competition in the form of the global ride sharing network, that is, the Ola-Didi Kuadi-Lyft-Grab Taxi. Notably, the combined funding off the four companies is less than Uber’s cash piles: Ola, Didi Kuaidi, Lyft and GrabTaxi have raised more than $7 billion while Uber has raised close to $10 billion since starting out in 2009.