Technology: Uber

If you have not already heard about it, Uber is a new transportation service that has been taking the world by storm. The main platform for the taxi-like service is the mobile application, which has been downloaded and used by millions of people around the world—specifically in 36 different countries. Currently, Uber is valued at about $18 billion by investors, which is a substantial amount for any company, but especially one that has only been around for a few years. Here is how Uber works: A user first downloads the app, then creates an account with billing and payment information. After the account is set-up, the user then chooses a desired vehicle type. Choices range from a taxi to a high-end, luxury car. Next, the user sets her pickup location so the car knows exactly where to pull up when it’s time for her departure. As the user waits for her car, she gets real-time updates as to how close her car is from the pickup location. As the drive is happening, the user can get information on the rate at which she is being charged. Finally, at the end of the ride, the user does not pay or tip in person. All transactions are handled through the credit card on file to make the process easier.

 

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