The Rise of Ridesharing Platforms

Total Page:16

File Type:pdf, Size:1020Kb

The Rise of Ridesharing Platforms The Rise of Ridesharing Platforms An Uber-assessment of bits and atoms Magnus Ofstad Master Thesis Design, Use, Interaction 60 credits Department of Informatics UNIVERSITY OF OSLO 05/2017 II III The Rise of Ridesharing platforms: an Uber-assessment of bits and atoms IV © Magnus Ofstad 2017 The Rise of Ridesharing Platforms: an Uber-assessment of bits and atoms Magnus Ofstad http://www.duo.uio.no/ Trykk: Reprosentralen, Universitetet i Oslo V Abstract This thesis is a case study of Uber. The research questions are 1. How do ridesharing platforms evolve from startups into large-scale market disrupters? 2. How can ridesharing platforms augment its user base and capture more segments within the transportation business? Uber’s scaling is traditional. The initial growth consisted of capturing the high end of the market. Later on, Uber moved down market, making ridesharing affordable for the masses. The master stroke was to devise a scalable business model that was replicable in different markets. More unique is Uber’s managerial approaches. Uber has devised novel strategies to overcome challenges thrown up in front of her. In short, Uber has leveraged its vast user network and partnered-up with outside forces to solve intractable tasks. These task networks have corroborated to turn the tide against the push back from taxi operators and unfriendly regulatory authorities. They have also aided Uber in the competition against other ride sharers. Uber’s decentralized structure consists of multiple innovative task networks. Local teams take initiatives which continuously spawn out new services and products. Simultaneously, Uber’s autonomous car project is a vast innovation network. The goal of the network is to bring the novelty first-to-market. Above all, the recruitment of drivers is the key to Uber’s scaling. This thesis claims that macro conditions in the labor market make it easy for the app to add new workers. Furthermore, venture funding gave Uber economic leverage to add users at a rapid pace through low prices and subsidized driver earnings. VI VII Preface Uber is an upstart which has reached a global presence. The venture is in the news almost on a daily basis. Despite Uber’s success, no one has given a full scholarly account of why it has been able to scale the user base exponentially. This thesis is an attempt to uncover the ingredients in this success formula. During the research process, it was evident that there were and are serious obstacles to Uber’s growth. These barriers arise from how Uber disrupt old practices in society. This thesis shows how Uber has devised fresh managerial approaches to overcome these hurdles. One particular strategy deals for instance with how Uber has solved the emergence of self-driving cars. The purpose of this thesis is not only to give a glimpse into the specific actions in Uber’s history that proved crucial to its success but also to provide theories that can be used to analyze other upstarts within the sharing economy. The last point is vital since I struggled with finding an all-encompassing theory to describe all the things that go on in Uber. This thesis, therefore, employs a multidimensional theoretical approach. Many of the theories used her might prove insightful and useful in the study of other cases within the sharing space. I would like to thank my academic supervisor Professor Ole Hanseth. He gave me suggestions about relevant research papers that inspired me to do this study. In the age of ‘fake news,' I will also compliment great journalists doing a tremendous job. My investigation would have been harder, more time-consuming, and less interesting without their effort. Uber is a wide case, and an old saying is that ‘the devil is in the details.’ I have tried to get most things right, of course, but if some dates and other minor details are slightly wrong, I will apologize for this in advance. The faults are all mine. Magnus Ofstad, Oslo, 05/02/2017 VIII IX Content 1 Introduction ........................................................................................................................ 1 1.1 Introducing ‘ridesharing’ in platform markets ............................................................ 1 1.2 An Uber review ........................................................................................................... 5 1.2.1 Labor .................................................................................................................... 6 1.2.2 Innovation ............................................................................................................. 8 1.2.3 Governance ......................................................................................................... 12 1.3 The ethics of Uber ..................................................................................................... 18 2 Background theory ........................................................................................................... 22 2.1 Brazilianization .......................................................................................................... 22 2.1.1 The first world .................................................................................................... 22 2.1.2 The third world ................................................................................................... 24 2.2 Platform economics ................................................................................................... 25 2.2.1 Multisided platforms .......................................................................................... 25 2.2.2 Network externalities ......................................................................................... 26 2.2.3 Early adopters and marquee users ...................................................................... 27 2.2.4 Innovation, subsidizing or quality ...................................................................... 27 2.3 Generative digital infrastructures .............................................................................. 29 2.3.1 Complex adaptive systems ................................................................................. 29 2.3.2 Generativity in digital infrastructures ................................................................ 30 2.3.3 Generative contextual conditions ....................................................................... 31 2.3.4 The generative replicative pattern mechanism ................................................... 32 2.3.5 The generative network of networks mechanism ............................................... 33 2.3.6 The generative innovation mechanism ............................................................... 35 3 Methods ............................................................................................................................ 36 3.1 Case selection ............................................................................................................ 36 3.2 Methodology .............................................................................................................. 37 3.3 Data collection ........................................................................................................... 38 3.4 Data analysis .............................................................................................................. 40 4 Findings ............................................................................................................................ 42 4.1 How Uber conquered San-Francisco? ....................................................................... 42 4.1.1 The creation of an app Leviathan ....................................................................... 42 X 4.1.2 The product as an asset ....................................................................................... 46 4.1.3 The Users as an asset .......................................................................................... 48 4.1.4 Flexibility and aggressiveness ............................................................................ 49 4.1.5 The launch pad ................................................................................................... 53 4.2 How Uber scaled exponentially? ............................................................................... 54 4.2.1 Revving up the motor with venture capital ........................................................ 55 4.2.2 Establishing the launch playbook ....................................................................... 56 4.2.3 Market segmentation and cheaper prices ........................................................... 59 4.2.4 Innovative recruitment and pricing policies ....................................................... 63 4.2.5 Design improvements ......................................................................................... 66 4.2.6 Technological improvements ............................................................................. 70 4.2.7 The fallout from dynamic pricing ...................................................................... 73 4.2.8 This is how Uber scaled ..................................................................................... 74 4.3 Augmentation Obstacles ............................................................................................ 75 4.3.1 Uber and regulators ............................................................................................ 76 4.3.2 Are driver’s employees or freelancers? .............................................................
Recommended publications
  • Lyft and Business Receipts
    Lyft And Business Receipts Choral and roiliest Wiatt gargled his bellyful prosecutes radio accusatively. Prescriptive Evelyn outlaw his sagamores boodles perseveringly. Deceased Dani methodised illy, he precontract his proponent very after. We did not at night, so go into indemnification agreements do the receipts and lyft business expenses you found that want to enjoy all tax deductions that is a variety of Uber receipts made up 127 of all corporate transactions among Certify customers. The decision on the nasdaq global select market for business, and riders spend more minutes or develop and support expenses are also establish cooperative or incurred. Why LYFT is cheaper than Uber? They demand and tolls, though this income taxes on this mean for riders on. Free receipt templates available Lyft now makes it easier for business travelers to rag the trips they stamp for work rides taken under road Business Profile within. Ride Receipts Download your Uber and Lyft receipts. Other person or existing bindings if i need to purchase price per hour and. Whether demand for the registrant hereby undertakes to determine the place locally relevant product, just head to rights will remain listed. Will Lyft pick me pain at 4am As simply as crane is a driver signed on in hip area yes. Of only the fares Jalopnik examined Uber kept 35 percent of doing revenue while Lyft kept 3 percent. Certify Report Lyft Use either Business Travelers Jumps. Taxes sure how get complicated when hard drive for Uber or Lyft. -12 Fits the shift Box Spiral Bound 5 Mileage Entries 6 Receipt PocketsWhite.
    [Show full text]
  • Tight and Loose Coupling in Evolving Platform Ecosystems: the Cases of Airbnb and Uber
    See discussions, stats, and author profiles for this publication at: https://www.researchgate.net/publication/325787583 Tight and Loose Coupling in Evolving Platform Ecosystems: The Cases of Airbnb and Uber Chapter · June 2018 DOI: 10.1007/978-3-319-93931-5_21 CITATIONS READS 11 853 3 authors: Andreas Hein Markus Böhm Technische Universität München Technische Universität München 27 PUBLICATIONS 255 CITATIONS 123 PUBLICATIONS 918 CITATIONS SEE PROFILE SEE PROFILE Helmut Krcmar Technische Universität München 1,129 PUBLICATIONS 10,362 CITATIONS SEE PROFILE Some of the authors of this publication are also working on these related projects: eGovernment MONITOR View project Electronic Government View project All content following this page was uploaded by Andreas Hein on 17 June 2018. The user has requested enhancement of the downloaded file. Tight and Loose Coupling in Evolving Platform Ecosystems: The Cases of Airbnb and Uber Andreas Hein1[0000-0001-9565-5840], Markus Böhm,1[0000-0003-2859-5651], and Helmut Krcmar1[0000-0002-2754-8493] 1 Technical University of Munich, Munich, Germany {andreas.hein, markus.boehm, krmcar}@in.tum.de Abstract. The emergence of digital platforms changes the way how companies interact with their ecosystem. Successful platforms like Apple’s App Store utilize an ecosystem of third-party developers to drive innovation. Those platforms are expanding the sphere of influence beyond internal resources and capabilities by taking advantage of a scalable ecosystem of external developers. However, until now it is unclear on how those companies establish a platform ecosystem. This article draws on two case studies in the form of ridesharing and accommodation platforms to illustrate how they transitioned through four evolutionary phases with the help of tight and loose coupling partnerships.
    [Show full text]
  • Uber Founder and CEO Travis Kalanick RESIGNS
    Uber founder and CEO Travis Kalanick RESIGNS citing 'difficulties in his personal life' just days after going on indefinite leave in the wake of the company's sexual harassment scandal dailymail.co.uk/news/article-4624186/Uber-founder-CEO-Travis-Kalanick-resigns.html 6/21/2017 Uber founder and CEO Travis Kalanick has resigned from the ride-sharing company Uber founder and CEO Travis Kalanick has resigned from the ride-sharing company. The 40-year-old entrepreneur announced he was stepping down at the firm he founded in 2009 deals with a sexual harassment scandal. Uber's board confirmed the move early on Wednesday, saying in a statement that Kalanick is taking time to heal from the death of his mother in a boating accident 'while giving the company room to fully embrace this new chapter in Uber's history.' He will remain on the Uber Technologies Inc. board and keep his shares which are worth billions. In a boardroom showdown, five of Uber's major investors, including Bill Gurley from capital firm Benchmark, demanded that the chief executive resign immediately. They then obtained a letter in which Kalanick announced his resignation, titled: 'Moving Uber Forward.' In a statement, the 40-year-old co-founder said his resignation would help Uber go back to building 'rather than be distracted with another fight,' an apparent reference to efforts on the board to oust him. It was unclear who would replace Kalanick. 'I love Uber more than anything in the world and at this difficult moment in my personal life I have accepted the investors request to step aside so that Uber can go back to building rather than be distracted with another fight,' it read.
    [Show full text]
  • Holding Ridesharing Companies Accountable in Texas Martha Alejandra Salas
    St. Mary's Law Journal Volume 49 | Number 4 Article 5 8-2018 Holding Ridesharing Companies Accountable in Texas Martha Alejandra Salas Follow this and additional works at: https://commons.stmarytx.edu/thestmaryslawjournal Part of the Civil Law Commons, Commercial Law Commons, Consumer Protection Law Commons, Insurance Law Commons, Jurisprudence Commons, Labor and Employment Law Commons, Law and Society Commons, Legal Remedies Commons, Legislation Commons, State and Local Government Law Commons, Transportation Commons, Transportation Law Commons, and the Urban Studies and Planning Commons Recommended Citation Martha A. Salas, Holding Ridesharing Companies Accountable in Texas, 49 St. Mary's L.J. 879 (2018). Available at: https://commons.stmarytx.edu/thestmaryslawjournal/vol49/iss4/5 This Article is brought to you for free and open access by the St. Mary's Law Journals at Digital Commons at St. Mary's University. It has been accepted for inclusion in St. Mary's Law Journal by an authorized editor of Digital Commons at St. Mary's University. For more information, please contact [email protected]. Salas: Holding Ridesharing Companies Accountable in Texas COMMENT HOLDING RIDESHARING COMPANIES ACCOUNTABLE IN TEXAS MARTHA ALEJANDRA SALAS* “Our technological powers increase, but the side effects and potential hazards also escalate.”1 I. Introduction ............................................................................................ 880 II. History & Development of TNCs ...................................................... 884 A. The Growth of TNCs .................................................................... 884 B. It Looks Like a Taxi, It Operates Like a Taxi, But It’s Not a Taxi................................................................................................. 888 C. Defying Public Policy ..................................................................... 892 III. Limited Avenues for Holding TNCs Liable ...................................... 893 A. Employees in Disguise? Let the Superior Make Answer ......... 893 1. The H.B.
    [Show full text]
  • Online Platforms for Exchanging and Sharing Goods
    CASE STUDY ONLINE PLATFORMS FOR EXCHANGING AND SHARING GOODS by Anders Fremstad 2/2/2015 A project of EXECUTIVE SUMMARY Americans own huge and underutilized stocks of consumer goods, including furniture, appliances, tools, toys, vehicles, and lodging. Websites like Craigslist, Couchsurfing, and NeighborGoods have lowered the transaction costs associated with acquiring secondhand goods and sharing underused goods, which may help us take advantage of this excess capacity. Indeed, advocates of the so-called sharing economy argue that technology can facilitate peer-to-peer transactions that enable us to save money, build community, and reduce environmental burdens. This case study evaluates the economic, social, and environmental effects of three online platforms. Craigslist provides an online market for local secondhand goods such as vehicles, furniture, appliances, and electronics. Couchsurfing matches travelers with hosts around the world who welcome guests into their homes. NeighborGoods helps people borrow and lend household goods free of charge. Together these case studies provide an overview of the role of online platforms as future economy initiatives. The economic benefits to these three platforms are significant, and likely to grow over time. Americans posted hundreds of millions of secondhand goods for sale on Craigslist in 2014, increasing access to affordable used goods. Couchsurfing has helped provide its members with millions of nights of free lodging, substantially reducing the cost of travel. While NeighborGoods has not achieved the scale of Craigslist or Couchsurfing, online platforms for sharing household goods could save Americans significant sums of money, especially if they can facilitate widespread ride-sharing and car-sharing. Online platforms may particularly improve the livelihoods of poor Americans.
    [Show full text]
  • How Cities Can Benefit from America's Fastest Growing Workforce Trend
    COMMUNITIES AND THE GIG ECONOMY How cities can benefit from America’s fastest growing workforce trend BY PATRICK TUOHEY, LINDSEY ZEA OWEN PARKER AND SCOTT TUTTLE 4700 W. ROCHELLE AVE., SUITE 141, LAS VEGAS, NEVADA | (702) 546-8736 | BETTER-CITIES.ORG ANNUAL REPORT - 2019/20 M I S S I O N Better Cities Project uncovers ideas that work, promotes realistic solutions and forges partnerships that help people in America’s largest cities live free and happy lives. ANNUAL REPORT - 2019/20 BETTER CITIES PROJECT WHAT DOES A NEW CONTENTS WAY OF WORKING 2 MEAN FOR CITIES? INTRODUCTION he gig economy is big and growing — 4 THE STATE OF THE GIG even if there is not yet an agreed-upon ECONOMY T definition of the term. For cities, this offers the prospect of added tax revenue 5 and economic resilience. But often, legacy METHODOLOGY policies hold back gig workers. Given the organic growth in gig work and its function as a safety net 6 for millions of workers impacted by the pandemic, it’s reasonable to AMERICA’S GIG ECONOMY IS expect gig-work growth will continue and even speed up; cities with a IN A TUG OF WAR ACROSS THE NATION permissive regulatory structure may be more insulated from econom- ic chaos. Key areas for city leaders to focus on include: 7 WORKERS LIKE GIG WORK n THE GAP BETWEEN REGULATION AND TECHNOLOGY CAN HOLD CITI- ZENS BACK AND COST SIGNIFICANT TAX REVENUE. Regulation often lags behind technological innovation and, in the worst circumstanc- 9 es, can threaten to snuff it out.
    [Show full text]
  • Sharing and Tourism: the Rise of New Markets in Transport
    SHARING AND TOURISM: THE RISE OF NEW MARKEts IN TRANSPORT Documents de travail GREDEG GREDEG Working Papers Series Christian Longhi Marcello M. Mariani Sylvie Rochhia GREDEG WP No. 2016-01 http://www.gredeg.cnrs.fr/working-papers.html Les opinions exprimées dans la série des Documents de travail GREDEG sont celles des auteurs et ne reflèlent pas nécessairement celles de l’institution. Les documents n’ont pas été soumis à un rapport formel et sont donc inclus dans cette série pour obtenir des commentaires et encourager la discussion. Les droits sur les documents appartiennent aux auteurs. The views expressed in the GREDEG Working Paper Series are those of the author(s) and do not necessarily reflect those of the institution. The Working Papers have not undergone formal review and approval. Such papers are included in this series to elicit feedback and to encourage debate. Copyright belongs to the author(s). Sharing and Tourism: The Rise of New Markets in Transport Christian Longhi1, Marcello M. Mariani2 and Sylvie Rochhia1 1University Nice Sophia Antipolis, GREDEG, CNRS, 250 rue A. Einstein, 06560 Valbonne France [email protected], [email protected] 2University of Bologna, Via Capo di Lucca, 34 – 40126, Bologna, Italy [email protected] GREDEG Working Paper No. 2016-01 Abstract. This paper analyses the implications of sharing on tourists and tourism focusing on the transportation sector. The shifts from ownership to access, from products to services have induced dramatic changes triggered by the emergence of innovative marketplaces. The services offered by Knowledge Innovative Service Suppliers, start-ups at the origin of innovative marketplaces run through platforms allow the tourists to find solutions to run themselves their activities, bypassing the traditional tourism industry.
    [Show full text]
  • How Are Startups Shaping the Future of Road Mobility? ROAD MOBILITY STARTUPS ANALYSIS 2018
    How are startups shaping the future of road mobility? ROAD MOBILITY STARTUPS ANALYSIS 2018 1 1 FOREWORD Startups can further enhance the mobility offer Tesla, Uber, Blablacar. Most in doing for passenger transport, Europeans would acknowledge to the point of being now a leading that these 3 startups have alternative to buses, trains and revolutionized the world of road short-haul aircraft. passenger transport over the last 10 years. Tesla, Uber and Blabacar - and their counterparts in other parts of By launching a company with the world - are no longer startups. global ambitions in this industry, Are there new startups that will the likes of which had not been herald market re-alignments of the seen since the creation of Honda in magnitude of these 3 companies? 1948, Tesla shook well-established If so, in which domains? How are car manufacturers. It opened the they going to do it? door to a new generation of cars: To answer these questions, we electric, connected, autonomous. studied 421* startups associated with on-road mobility. The world of taxis was halted, even blocked. By relying on This study of 421 startups allowed smartphones, Uber dynamised us to highlight 3 major groups: the situation and somewhat satisfied - not without criticism - / Startups that contribute to the the shortage of affordable private emergence of a new generation of driver services in some cities. cars; / Those which conceive mobility not The sharing economy is simple through means, but as a service; (...on paper): exploit the over- / Those that mix the future of the capacity that one person has in vehicle and new types of services to order to make it available to all.
    [Show full text]
  • The Top 7 International Ride-Sharing Apps
    Locations Resource Artciles Beyond Uber: The Top 7 International Ride-Sharing Apps Need a Lyft? In an Uber rush? Chances are good that if you’re residing in the United States, both these questions have taken on double meanings in recent years. From the most urbanized to isolated societies, applications such as Lyft and Uber have brought a new form of transportation, known as ridesharing, to the masses. As part of the greater sharing economy, or through the uberisation effect, these applications take advantage of our telecommunication networks and smart devices to make our lives easier. In short, they do this by ultimately removing the larger companies from the equation and facilitating mutually benecial peer-to-peer interactions. Ride-sharing is a great example for this, as anyone who has used an associated application can attest. When using Uber, for instance, a customer must only broadcast their need for a ride to a specic destination, and any registered nearby driver may accept. Uber, of course, takes its cut from the fares, but otherwise, the transaction is solely between the consenting driver and customer. For many in the world, Uber has become more than a household name for ride-sharing applications, becoming more akin to the industry as a whole, rather than a specic brand. This is in the same regard as to how Kleenex has superseded tissue paper, despite other brands available on the market. That said, there are actually several competitors to Uber outside of the United States. If you’re traveling abroad, having some knowledge of them, as well as their existence, might save you when you need it most, particularly if your destination is not supported by the company you’re familiar with.
    [Show full text]
  • Facebook Timeline
    Facebook Timeline 2003 October • Mark Zuckerberg releases Facemash, the predecessor to Facebook. It was described as a Harvard University version of Hot or Not. 2004 January • Zuckerberg begins writing Facebook. • Zuckerberg registers thefacebook.com domain. February • Zuckerberg launches Facebook on February 4. 650 Harvard students joined thefacebook.com in the first week of launch. March • Facebook expands to MIT, Boston University, Boston College, Northeastern University, Stanford University, Dartmouth College, Columbia University, and Yale University. April • Zuckerberg, Dustin Moskovitz, and Eduardo Saverin form Thefacebook.com LLC, a partnership. June • Facebook receives its first investment from PayPal co-founder Peter Thiel for US$500,000. • Facebook incorporates into a new company, and Napster co-founder Sean Parker becomes its president. • Facebook moves its base of operations to Palo Alto, California. N. Lee, Facebook Nation, DOI: 10.1007/978-1-4614-5308-6, 211 Ó Springer Science+Business Media New York 2013 212 Facebook Timeline August • To compete with growing campus-only service i2hub, Zuckerberg launches Wirehog. It is a precursor to Facebook Platform applications. September • ConnectU files a lawsuit against Zuckerberg and other Facebook founders, resulting in a $65 million settlement. October • Maurice Werdegar of WTI Partner provides Facebook a $300,000 three-year credit line. December • Facebook achieves its one millionth registered user. 2005 February • Maurice Werdegar of WTI Partner provides Facebook a second $300,000 credit line and a $25,000 equity investment. April • Venture capital firm Accel Partners invests $12.7 million into Facebook. Accel’s partner and President Jim Breyer also puts up $1 million of his own money.
    [Show full text]
  • The Uber Board Deliberates: Is Good Governance Worth the Firing of an Entrepreneurial Founder? by BRUCE KOGUT *
    ID#190414 CU242 PUBLISHED ON MAY 13, 2019 The Uber Board Deliberates: Is Good Governance Worth the Firing of an Entrepreneurial Founder? BY BRUCE KOGUT * Introduction Uber Technologies, the privately held ride-sharing service and logistics platform, suffered a series of PR crises during 2017 that culminated in the resignation of Travis Kalanick, cofounder and longtime CEO. Kalanick was an acclaimed entrepreneur, building Uber from its local San Francisco roots to a worldwide enterprise in eight years, but he was also a habitual rule- breaker. 1 In an effort to put the recent past behind the company, the directors of Uber scheduled a board meeting for October 3, 2017, to vote on critical proposals from new CEO Dara Khosrowshahi that were focused essentially on one question: How should Uber be governed now that Kalanick had stepped down as CEO? Under Kalanick, Uber had grown to an estimated $69 billion in value by 2017, though plagued by scandal. The firm was accused of price gouging, false advertising, illegal operations, IP theft, sexual harassment cover-ups, and more.2 As Uber’s legal and PR turmoil increased, Kalanick was forced to resign as CEO, while retaining his directorship position on the nine- member board. His June 2017 resignation was hoped to calm the uproar, but it instead increased investor uncertainty. Some of the firm’s venture capital shareholders (VCs) marked down their Uber holdings by 15% (Vanguard, Principal Financial), while others raised the valuation by 10% (BlackRock).3 To restore Uber’s reputation and stabilize investor confidence, the board in August 2017 unanimously elected Dara Khosrowshahi as Uber’s next CEO.
    [Show full text]
  • Developing the Business Model
    Chap 7 Understanding the Business Model. Dr. Jack M. Wilson Distinguished Professor of Higher Education, Emerging Technologies, and Innovation © 2012 ff -Jack M. Wilson Distinguished Professor Technological Entrepreneurship 7. Business Models 1 Consider the case of Uber • History – Founded in 2009 by Garrett Camp and Travis Kalanick as “UberCab” – Met at LeWeb in Paris, France in 2008, Camp wanted to solve the Taxi problem in San Francisco – Original pitch split the cost of a driver, Mercedes S Class, and a parking spot with an iPhone app – January 2010, service was first tested in New York – Service launched in July 2010 in San Francisco – From May 2011 to February 2012 Uber expanded into Seattle, Boston, New York, Chicago, and Washington D.C. – First international expansion in Paris, France in December 2011 © 2012 ff -Jack M. Wilson Distinguished Professor Technological Entrepreneurship 7. Business Models 2 Founders • Garrett Camp • Travis Kalanick – Graduate from University of – Dropped out of UCLA in 1998, Calgary, Bachelors in Electrical founded Scour Inc. with some Engineering and Masters in classmates Software Engineering – Founder of Scour and Red Swoosh, – Founder of StumbleUpon, a web- peer-to-peer file-sharing companies discovery engine which he sold to – Scour filed for bankruptcy in 2000 to eBay for $75 million in 2007 protect itself from a major lawsuit – Also founded Expa in 2013, A – Served as the CEO at Uber until he startup studio that works to was fired in 2017 after allegations of develop and launch new products inappropriate behavior © 2012 ff -Jack M. Wilson Distinguished Professor Technological Entrepreneurship 7. Business Models 3 Investors in Uber Here is a list of the early investors in Uber • Lowercase Capital • First Round • Menlo • Benchmark • Goldman Sachs • Google Ventures © 2012 ff -Jack M.
    [Show full text]