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Uber: Rising Valuations Amidst Ethical Woes
INTRODUCTION
In December 2014, Uber Technologies, Inc., (Uber), an app-based city transport service provider, got its sixth round of funding worth US$1.2 billion from a group of investors including Qatar Investment Authority, a sovereign wealth fund of Qatar, and Valiant Capital Partners . This round of funding elevated the valuation of Uber by US$23 billion from the earlier US$18.2 billion in June 2014 to US$41.2 billion making it second most valued privately held technology start-up in the world after Xiaomi Inc. According to industry experts, Uber was the one of the fastest growing company in the world. |
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However, even as Uber’s operations and valuation grew, its problems also increased. It faced problems from local regulators and lawmakers. It also faced criticism on several fronts such as safety, public relations, and its handling of the media. , According to experts, Uber had to overcome these challenges if it was to meet the expectations of its investors.
