Nowadays, we've all heard of it: Uber. A do-it-yourself taxi service that every twenty-something far and wide is becoming to see as their literal ride or die.
The company was originally founded as "UberCab" by Garrett Camp, the founder of StumbleUpon, and Travis Kalanick in 2009, down in sunny San Francisco. Uber was Kalanick's third attempt at starting up a company, his previous being Scour and Red Swoosh. Scour filed for bankruptcy to avoid a lawsuit, and Red Swoosh was bought out by another company, leaving Kalanick with enough money to join up with Garrett Camp and create Uber. Camp, a fellow millionaire, thought of Uber after mulling over how to bring down the price of his $800 private driver service. He ended up asking some other Silicon Valley elites to split the cost with him, and upon realizing how affordable driving services could be when shared with others, thought up Uber. Initially, the company had to overcome its lack of funding to really get going, so the founders invested $200,000 in seed money to get the ball rolling. By the end of 2011, Uber had raised $44.5 million in funding. It targeted a millennial demographic and offered a quick and easy alternative to public transportation or cab services, setting it apart from other companies at the time and paving the way to success. While business was bangin' for awhile, things began to go downhill.