Rahim Mitha

Uber's Monster IPO

Rahim Mitha
Uber's Monster IPO

Uber's $8.1 billion IPO today marks the largest since Alibaba in 2014. Uber is valued at $82.4 billion.

To put that in perspective, Amazon was worth less than $500 million when they went public in 1997; equal to 0.61% of Uber's valuation.

The idea for Uber dates back to 2008 when two friends were unable to get a cab on a snowy evening in Paris. Returning to San Fransisco, they noticed the same problem and began incubating a solution. In 2010, the service was tested in New York with only three cars. With the tap of a button, a ride could be ordered directly to one’s location and the cost was automatically charged!

The fact that something has been done the same way for many years does not mean better solutions are not possible. The idea for Uber was crazy in 2008, having people trust random strangers and get into their cars. But can you imagine a world without Uber today?

What pain points do you face in your life that could be solved in a more efficient and effortless way?