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March 29, 2015 8:38 PM ET

Software

Company Overview of Uber Technologies, Inc.

Company Overview

Uber Technologies, Inc. provides a smartphone application that connects drivers with people who need a ride. The company’s application enables users to arrange and schedule transportation and/or logistics services with third party providers. Uber Technologies serves customers in North, Central, and South Americas, as well as Europe, the Middle East, Africa, and the Asia Pacific. The company has a strategic partnership with Alexandria Real Estate Equities, Inc. Uber Technologies, Inc. was formerly known as UberCab Inc. and changed its name to Uber Technologies, Inc. in October 2010. The company was founded in 2009 and is based in San Francisco, California.

182 Howard Street

Suite 8

San Francisco, CA 94105

United States

Founded in 2009

Phone:

415-986-2104

Fax:

877-223-8023

Key Executives for Uber Technologies, Inc.

Co-Founder and Chief Executive Officer
Co-Founder
Head of Global Operations
Chief Technology Officer
General Counsel
Compensation as of Fiscal Year 2014.

Uber Technologies, Inc. Key Developments

Uber Technologies Finalizes Deal to Expand into 173,000 Square Feet on Market Street

Uber Technologies finalized a deal to expand into 173,000 square feet in the former Chevron headquarters on Market Street. The 555 Market St. deal is the latest bite in Uber's feast of office leases over the past year. It now has more than a half-million square feet of office space leased in three Market Street buildings and another 423,000 square feet pre-leased in the Mission Bay neighborhood. Uber's 930,000 square feet total leased or pre-leased would make it the second-largest tech office user in the city, surpassing Twitter but still well behind Salesforce's 2.5 million square feet. The financial terms of the lease couldn't be confirmed.

Taxi Companies in California Sues Uber Technologies for False Advertising

Taxi companies in California have sued Uber Technologies in a federal court, charging the ride-hailing smartphone app company with misleading advertising regarding the safety of its rides. Uber has made false and misleading advertisements regarding the safety of rides on its UberX platform, and criticized the safety of taxi rides offered by the taxi companies, the 19 firms said in a lawsuit filed in the U.S. District Court for the Northern District of California, San Francisco division. The suit comes in the wake of problems Uber is facing in some countries. On March 25, the Frankfurt Regional Court issued a nationwide ban against the company's UberPop service after declaring its business model illegal. Using a smartphone app to connect passengers with private drivers that use their own cars and don't have the required licenses is illegal. In South Korea, Uber's head of operations there and several drivers associated with the company and a partner are being investigated for breaking local communications and transportation rules. The false and misleading statements by Uber help the company 'line its pockets', but they also cause financial harm to the taxi companies because their potential customers opt for UberX, mistakenly expecting a safer ride. The claims against Uber by the taxi companies are quite similar to those in a consumer protection lawsuit filed in December in San Francisco Superior Court by the district attorneys for Los Angeles and San Francisco that accused Uber of misleading consumers over its background checks on drivers. The lawsuit on Wednesday appears to focus instead on the damages to the taxi companies from Uber's allegedly false claims. The complaint alleges that Uber charges a $1 "safe rides fee" for each UberX ride, while representing to consumers that the entirety of the fee goes towards ensuring the safety of Uber riders and drivers, as opposed to the company's bottom line or some other aspect of the company. The company has been charged with violating the federal Lanham Act, which deals with false advertising, and California's False Advertising Law and Unfair Competition Law. The taxi companies have asked the court for a jury trial and an injunction on Uber's false advertising, besides an award of damages for which the amount was not specified.

Yidao Yongche Reportedly Mulls Acquisition Of Yidao Yongche

Uber Technologies, Inc. is reportedly seeking acquisition of Yidao Yongche. Uber is reportedly in talks to merge with its domestic Chinese competitor Yidao Yongche, with a deal in sight within a week. “Talks between the two had been ongoing for months, but were accelerated due to last month’s union of two other major competitors Didi Dache and Kuaidi Dache,” reports in the Chinese media said. Details of the deal were not given, but news portal Sina reported that search giant Baidu, a stakeholder of Uber and Yidao, was the main facilitator behind the merger and that the deal would be signed within the week.

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