Uber put forth the aim of providing self-driving cars along with charging, parking, ride-hailing service, car-sharing, and multimodal transport. According to Uber’s chief executive, Dara Khosrowshahi, driverless cars will not only transform the way we live but will also make our cities more livable. Uber is aiming at more than getting car rides, it wants to become the “Amazon of Transportation”.
Uber will undergo initial public offering and looking at the current status, it looks like this will be one of the biggest share offering in the tech sector. This cash injection is expected to close at the end of this year.
Toyota, along with the investment fund SoftBank vision fund, has invested $1 billion in the cause. Toyota has already been investing in companies that aim to produce self-driving cars and has already invested a good $500 million.
DENSO, a Japanese parts maker along with Toyota, has invested $667 million to help Uber achieve its target while the remaining $333 million were poured in by SoftBank. SoftBank already owns 16 percent of Uber’s shares. Toyota claims that in the coming three years it will pitch in an additional $300 million for the venture.
The “sharing economy” theory that uber has devised is working wonders for the company. Its revenue grew up to as much as 42 percent last year (11.2 billion), however, due to some losses they could only get their hands on $3 billion in profit. On the other side, Uber eats, devised on the same theory is growing successful day by day.
The company’s chief executive has promised transparency and just last week, the official documents for the share offering were filed. They showed that uber operates in six continents, has more than 10 billion rides since 2010 and the number of rides in a continent goes up to as much as 14 million per day.
Last month, wall street journal posted about Uber wanting to raise $10 billion for one of its ventures. Another media report also said that Uber seeking a market valuation of $100 billion.
As Uber board members/CEO Honorable Mr. Dara Khusro Shahi vision of Driverless Cars will not only transform the way we live, but will also make our cities more liveable. Uber is aiming at more car rides, it wants to become the “Amazon of Transportation”. The IPO launch being the biggest share offering in the tech., sector. Toyota with the investment fund Soft Bank vision fund invested $1billion on the cause. With Uber seeeking maket valuation of $100 billion. Toyota aiming to produce Self Driving cars invested$500 million Denso invested $667 million. The “sharing economy” that Uber has devised is working wonders for the company. Uber revenue growing 42%. The WHO/UN recommendations for for cities as Karachi to invest and review the entire transportation system of the city with Public Transportation as Uber Taxi, Tuk tuk, and buses. Uber would not require any other transportation company/group to compete. Competition on international Tender which should include China with the state of the Art AI (Artificial Intelligence) for the Driverless Car, Rail/Road Transportation will bring revolution in the city of Karachi, Pakistan for commuters. With satellites monitoring the road traffic, pedestrian crossing roads Mazda coach emitting thick diesel smoke, and the entrance foot board is 25″ to dis-embark for the passenger which doesn’t stop. The Chinese satellites under the foot print will save hundreds of injuries/accidents as a model to the world Road Safety, for safe operation of Automated Taxi with Ride Sharing.