Take a look at Uber’s first pitch deck from 2008

Founders Travis Kalanick and Garrett Camp compared it to a private jet service.

Uber, which was conceived in August 2008, is now nine years old and looks largely unrecognizable from the company’s original incarnation. Today, Uber is a global company with a growing on-demand food delivery business, a self-driving arm, and has gradually moved away from promoting its luxury service in some markets.

That stands in stark contrast to what the company — originally called UberCab — was created to be. In its first pitch deck, which co-founder and board member Garrett Camp published, Camp and Travis Kalanick compared UberCab to the “NetJets of car services.”

It was created to be a faster, luxury alternative to cabs. It would be members-only, use Mercedes sedans and would be geared toward “professionals in American cities.” It would be an invite-only, exclusive service.

That business model, which the founders predicted could bring in anywhere between $ 20 million to $ 1 billion a year in revenue, is not the Uber many consumers know today.

Though today the business and the revenue continue to grow, Uber’s overall profitability remains a question in some markets. In India, Uber is still fighting an expensive ground war against a strong competitor, Ola, and in the U.S. the company has started to cede ground to its rival Lyft. The company is laser-focused on cutting its losses, however, and recently merged its operations in Europe with competitor Yandex.

Uber pitch deck.

For one, the company has continued to expand the kinds of cars that can drive on its platform in order to get more drivers. Uber is no longer the chauffeur experience that UberCab was intended to be. The company’s “client base” — its riders — aren’t all professionals in American cities.

In fact, Uber has long pitched itself as an affordable transportation solution that works alongside public transportation in some cities.

Interestingly, however, the pitch deck does touch briefly on an integral part of Uber’s business model today: UberPool. Uber didn’t roll out its ride-sharing service UberPool until 2014 and yet it’s mentioned twice in this 2008 deck. Once, it’s mentioned as a use case for UberCab. Then it’s discussed as an environmental benefit that riders would be incentivized to do because of lower costs.

 Garrett Camp
Uber’s pitch deck

It also appears the company was expecting to own the cars in its fleet. Today, Uber’s model depends largely on having little overhead when it came to its service. Drivers aren’t employees and the company doesn’t own the cars. But the next steps listed in the deck include buying more cars, and buying used cars for cheaper was listed as a future optimization.

Here’s the full pitch deck:


Recode – All

Apple Has Paid out $70 Billion to App Developers Since 2008

Apple on Thursday reported that since its inception in July, 2008, the iOS App Store has generated revenue allowing Apple to pay its domestic and international app developers over $ 70 billion dollars.

The revelation comes as we’re just days away from Apple’s 28th annual Worldwide Developers Conference (WWDC) 2017, at which the company will showcase a variety of next-generation software titles, applications, and potentially a few hardware products.

“People everywhere love apps and our customers are downloading them in record numbers,” said Philip Schiller, Apple’s senior vice president of Worldwide Marketing, in the company’s official press release. “Seventy billion dollars earned by developers is simply mind-blowing. We are amazed at all of the great new apps our developers create and can’t wait to see them again next week at our Worldwide Developers Conference.”

Apple acknowledged that several of the more popular titles — including blockbuster hits like Pokemon GO and Super Mario Run — are in large part responsible for the overwhelming growth of the app store. For instance, Apple says during the last year the app store saw a massive 70% boost in downloads, as well as continued support for big-hit titles.

In terms of overall revenue, Apple reports that gaming and entertainment were among the highest-performing app categories, driven largely by the presence of increasingly immersive games built on subscription-style pricing models — within which Apple noted seeing a dramatic 58% uptick in, year over year. Subscription-based games and titles that allow continuous in-app purchases were among Apple’s highest earning, and apps from bourgeoning categories like Photo and Video, or Health and Fitness, grew by over 90% and 70%, respectively.

“App Store developers from around the world create apps for customers in 155 countries that improve lives, rethink industries and shape culture. Gaming and Entertainment are top-grossing categories, and Lifestyle apps as well as Health and Fitness have experienced over 70 percent growth in the past year. The Photo and Video category is also among the fastest-growing at nearly 90 percent growth,” Apple said.

This news is certainly great for Apple’s current app developers, developers past, and equally promising for future entrepreneurs in the app economy. Of course, it also comes on the cusp of WWDC 2017, which will kick off with a keynote speech on Monday, June 5 at 10 am PST. Make sure to stay with us for all the updates and revelations that Apple has to offer this year, and find out all about the next-generation of apps for iOS 11, macOS 10.13, watchOS 4 and more.

Want a FREE iPhone 7? Click here to enter our monthly contest for a chance!
Follow us on Apple News by pressing the (+) button at the top of our channel

iDrop

With WWDC set to kick off, Apple announces App Store developers have earned $70B since 2008

Article Image

Since it launched nearly 9 years ago, the iOS App Store has delivered more than $ 70 billion to developers, while downloads have surged 70 percent in the last year alone.
AppleInsider – Frontpage News