Uber Sets Valuation Record Of $17B

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Because this makes perfect sense. :rolleyes:

The San Francisco-based transportation service, which lets people order private town cars and other vehicles from their smartphone, has raised $1.2 billion in a new financing led by Fidelity Investments. The funding positions the company at the front of a pack of Internet startups, at a pre-money valuation of about $17 billion, up from $3.5 billion in a financing last year.
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I'd say a large majority of those "jobs" are re-purposed from other jobs, not necessarily "new" ones. Not necessarily bad, but not nearly as large of an impact as they're making out. Take that into consideration, along with the cabbies they're putting directly out of business...

All that being said, I love Uber and Lyft, they've made my life so much better.
 
TwistedAegis said:
I'd say a large majority of those "jobs" are re-purposed from other jobs, not necessarily "new" ones. Not necessarily bad, but not nearly as large of an impact as they're making out. Take that into consideration, along with the cabbies they're putting directly out of business...

All that being said, I love Uber and Lyft, they've made my life so much better.
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It's a competive model that Uber has found a way to leverage. If the cab companies can't compete, then too bad. Let the market sort this out I'd say.
 
Think about it, 17 billion because you figured out a way to get rides with a phone...
 
TwistedAegis said:
I'd say a large majority of those "jobs" are re-purposed from other jobs, not necessarily "new" ones. Not necessarily bad, but not nearly as large of an impact as they're making out. Take that into consideration, along with the cabbies they're putting directly out of business...

All that being said, I love Uber and Lyft, they've made my life so much better.
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I've known some cab drivers here in Vegas. The company policies they have to work under are utter BS. Drivers make very little compared to what the corporation makes. It doesn't help that most of the companies are owned by one corporation now, so competition is non-existent except from other drivers.
 
Spidey329 said:
I've known some cab drivers here in Vegas. The company policies they have to work under are utter BS. Drivers make very little compared to what the corporation makes. It doesn't help that most of the companies are owned by one corporation now, so competition is non-existent except from other drivers.
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*edit* and my point was that .. Good, let this competition put the cab companies out of business. Next, we need an app to help put tow companies and payday loan companies out of business.
 
Methadras said:
It's a competive model that Uber has found a way to leverage. If the cab companies can't compete, then too bad. Let the market sort this out I'd say.
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One of the major points of contention here is that taxi cab companies cannot compete with Uber is because taxi cab companies have to pay taxes and have certain insurance coverages, whereas Uber drivers do not have to pay said taxes or have the same insurance.

The taxi cab companies argue that because they are subject to these extra costs - it is unfair; and that Uber/Uber Drivers should have to also pay these taxes and insurance costs.

(At least this is what they were crying about here in DC)
 
Uber is basically a cab company. Is a NYC cab company worth $17B? I doubt it. Then why would Uber be worth that much?
 
SparksNelec said:
Uber is basically a cab company. Is a NYC cab company worth $17B? I doubt it. Then why would Uber be worth that much?
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They're a company with global reach not just a NY cab company. With that said they aren't worth $17B.
 
bpmurrGT said:
They're a company with global reach not just a NY cab company. With that said they aren't worth $17B.
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They are if they figure out a way to put an "+Add Prostitute" checkbox on the orderform, easy as adding toppings to a pizza order.
 
Was this $17B valuation before, or after, they were banned in Virginia on Thursday?
 
Goride said:
One of the major points of contention here is that taxi cab companies cannot compete with Uber is because taxi cab companies have to pay taxes and have certain insurance coverages, whereas Uber drivers do not have to pay said taxes or have the same insurance.

The taxi cab companies argue that because they are subject to these extra costs - it is unfair; and that Uber/Uber Drivers should have to also pay these taxes and insurance costs.

(At least this is what they were crying about here in DC)
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Instead of fighting systems like Uber, Taxi companies should be fighting the government that is holding them by the short and curlies, having to pay for medallions to have the "luxury" of being a taxi in a city? Forced to charge what the city says you can charge? I mean I know the mentality is that that money goes to help pay for a system which makes sure taxi drivers are good drivers, etc etc... but lets be honest, when was the last time you took a taxi where you said "hmmm this guy seems like a true professional driver who follows all the rules of the road, never speeds, never cuts anyone off"
 
The first Uber serial rapist will cut that valuation in half.

The first Uber serial killer will mandate licensing the same as cabbies and end Uber all together.
 
How the fuck do these shitheads not require a Taxi license?

The first on rush of rape rides, where un-vetted sex offender drivers take chicks for a "real ride" will drive that valuation to $5.
 
weuntouchable said:
The first Uber serial rapist will cut that valuation in half.

The first Uber serial killer will mandate licensing the same as cabbies and end Uber all together.
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Yeah because licensing of taxi cabs have completely eliminated sexual assaults by cab drivers on their customers...
 
weuntouchable said:
The first Uber serial rapist will cut that valuation in half.
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Already happened...on Wednesday of this week.

Uber could not have possibly picked a worse week for thier valuation announcement

They have a rape charge on Wednesday, and a cease and desist from the Virgina DMV on Thursday. What's next, a Monday morning IPO?
 
$17B is a stupid valuation for something that's likely to pop (regulation, competition, etc). VCs are getting good at this game and will probably be the only ones to see anything significant out of this game.
 
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