While transforming transportation, Uber has offered a model for innovative companies to cause disruption throughout the economy.
The success of Uber, which is now the fastest growing company in the world, (in 2015 it announced a USD$51 billion valuation), is a bit of a mystery at first glance. Uber is a personal transportation company that doesn’t own any cars. The company makes it fortune by connecting those in need of a service, in this case transportation, with those offering a compatible service, by using a peer-to-peer business model. The transaction is digital; you use an app to summon or schedule an Uber-driver, and as soon as your ride arrives, off you go.