Uber Technologies Inc. : An American Multinational Online Transportation Network Company
Uber was founded as UberCab in 2009 and the app was released the following June. Beginning in 2012, Uber expanded internationally. In 2014, it experimented with carpooling features and made other updates. Klout rated the San Francisco-based company as the 48th-most powerful company in America in 2014. By late-2015, Uber was estimated to be worth $62.5 billion (breaking news on Uber, 2016).
Taxi drivers feel Uber is “unfair” competition. Taxi drivers hate it because Uber is taking their customers, but does not have to adhere to the same regulations and fees imposed on taxis. Cabbies need to purchase taxi medallions which can cost hundreds of thousands of dollars-Uber drivers don’t need one. Consequently, in May-June 2015, an analysis found that Uber pickups increased by 3.82 million in Manhattan while taxis saw a decline of 3.83 million pickups in the same period. Uber undercuts the local cab rates and does not classify its drivers as employees (Telegraph, 2016).
The legality of…