The first name in ride-hailing had a ton of hype around it for the first half of 2019 thanks to its IPO. And though the $8 billion valuation fell well short of speculations of $100 billion, Uber is still one of the biggest names on the market today.
With such eye-popping numbers, it's difficult to remember a time when the 10-year-old company wasn't the juggernaut it is today. Uber currently has more than 2 million drivers ferrying passengers in more than 63 countries.
But back in August 2008, founder Garrett Camp was laying out his dream of a "next-generation car service" in a slideshow on his computer. Little did he know that dream would grow exponentially into a company that now handles grocery delivery, that has a rapidly growing on-demand food delivery segment in Uber Eats, and is developing a fleet of self-driving taxis.
As part of our coverage of the genesis of today's successful companies,BI Primetook a look at how Camp envisioned Uber (then UberCab) 10 years ago in his original pitch deck:
- The core concept was largely the same: a fast and efficient on-demand car service that he described as the "NetJets of car services"
- Uber originally wanted to screen its customers by only picking up members and banning hailing from the street
- All of Uber's projected use cases, from airport pickup/dropoff to travel to and from restaurants, still hold up today
Some of what Camp laid out in the pitch deck no longer holds up, such as a few of Uber's projected eco-friendly benefits and the makeup of Uber's fleet of cars.
The rest of the deck outlines some key points such as:
- Plans for surge pricing
- The company's project valuation
- Potential outcomes for the company, including a best-case scenario
- Future optimizations
- Marketing ideas
- And more
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