What went down in Paris for Uber to be invented?

20th August 2021

Hi there, 

The Eiffel tower stood tall, boasting its presence, throwing swanky lights at passersby. The Siena river hungrily lapped up the city lights eager to show its distorted reflections. It was yet another magical night in Paris.

One may ask, what could go wrong on a night like this? Figures, you can be stranded on the road without cabs. That’s exactly what happened to Travis Kalanick and Garrett Camp who were late to the LeWeb, an annual tech conference conducted by the Economist.

The Paris charm had no effect on the disgruntled gentlemen who were now to take an overpriced black cab to the destination. But from their frustration arose a question - “What if, with the tap of a button, one could order a ride?”

Upon arriving at their homeland and in the comfort of their own vehicles, the founders named their ‘crazy idea,’ Uber, and tested it with three cars in 2010. After seeing a massive demand, Uber was launched officially later that year. Even though Uber had its ups and downs, its valuation today stands at $81.2bn with a 21.7% CAGR growth rate. 

All because they were bold enough to execute a crazy idea that mattered deeply to them and stayed throughout the lengths of its journey. In this Compass, let’s see how you can convert your crazy ideas into business ventures and grow them through ups and downs.

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