Uber Raises $11 Million For Booking Black Car Services On-The-Go

Uber is a company that was founded by StumbleUpon founder Garrett Camp. The company has raised $11 million in a round of funding that gives them a $49 million pre-money and $60 million post-money valuation. Benchmark Capital led the round and Sequoia Capital partner Alfred Lin participated as an individual. Benchmark partner Bill Gurley will be joining the board of directors.

Uber is a company where you can rent a private car service instead of using a cab. It costs about 50% higher than a cab. Camp does not own a car so he wanted to use private cars but not incur the cost of having a dedicated car. You ask for a black car to come get you through the mobile app and you can track it via GPS. Payments are automatically charged through the card you have on file. Since launching last summer in San Francisco, thousands of people have used the service.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at

Uber Raises $11 Million For Booking Black Car Services On-The-Go Comments

  1. Taxizapp says:

    Big valuation for a company still just operating in San Francisco – would love that money!

    If you are in the UK and a driver then we have a similar app available for you to use to make money – its called TaxiZapp – you can register at www.taxizapp.com and download the drivers app – then start telling your passengers that its in the area.

    Passengers can download the app now from the app store – in a couple of weeks can book direct from the website – other smartphone versions on the way. We are currently building our driver network but have taxis at the moment in London – Liverpool and Northern Ireland – these are genuine licensed Taxis in GB (Public Hire) The app will work anywhere in the world but as yet we are concentrating on the UK.

    As a passenger if you want this in your area – then start spreading the word to your local taxi drivers – follow us on facebook www.facebook/taxizapp and on twitter @taxizapp

    The app has lots of cool features including:
    – picks up your location by GPS
    – you can see drivers around you
    – for safety you get all drivers details sent to you – you can forward these to someone else by email
    – you watch the driver approach on the map (you get estimation of how long they will be)
    – you can rank the driver give them feedback and send message to facebook and twitter

    constructive feedback welcome!

Leave a Comment