{"id":27561,"date":"2017-08-24T19:58:57","date_gmt":"2017-08-24T14:28:57","guid":{"rendered":"http:\/\/officechai.com\/?p=27561"},"modified":"2017-08-24T20:05:56","modified_gmt":"2017-08-24T14:35:56","slug":"uber-pitch-deck-2008","status":"publish","type":"post","link":"https:\/\/officechai.com\/startups\/uber-pitch-deck-2008\/","title":{"rendered":"This Was Uber’s First Pitch Deck From 2008, Even Before It Had Developed Its App"},"content":{"rendered":"

Uber is today the world’s most valuable startup. It’s worth nearly $70 billion, operates in 633 cities around the world, and has fundamentally changed how people travel. But less than a decade ago, the idea for Uber lay in 25 slides in a Microsoft Power Point deck.<\/span><\/p>\n

\"uber<\/span><\/p>\n

Uber cofounder Garett Camp — who originally came up with the Uber idea before Travis Kalanick joined him — has shared Uber’s first ever pitch deck. In 2008, Uber was still called UberCab, and hadn’t even developed its app. The “progress to date” section in the deck<\/span> <\/a>says at that point, Uber had just\u00a0registered the UberCab.com domain name, hired 5 advisors and 15 clients, and filed a provisional patent.<\/span><\/p>\n

\"uber<\/span><\/p>\n

Somewhat\u00a0optimistically, it said among its next steps were to “raise a few million”. Uber, of course, managed to do a lot better — to date, the company has raised $8.81 billion from a clutch of prominent investors. But given how tech companies tend to pivot and switch around, it’s remarkable how well-formed Uber’s idea was, even in its early days.<\/span><\/p>\n

Uber’s deck first stated the problem with traditional taxi companies — it said cabs used ageing radio dispatch technology, there was no two-way communication between drivers and riders, and long idle periods for cabs.\u00a0<\/span><\/p>\n

\"uber<\/span><\/p>\n

 <\/p>\n

It then proposed its own app-based solution, which relied on\u00a0hailing cabs digitally. Uber wanted to initially target professionals, and even back then said it would incentivise its drivers — even today, Uber drivers earn a majority of their income through incentives and bonuses.<\/span><\/p>\n

\"uber<\/span><\/p>\n

Several features, which have been thought to be behind Uber’s success, were already enshrined in the document — even in 2008, Uber always wanted rides to be cashless and friction free. Where they didn’t do so well was their profitability projections — Uber said its service would be “profitable by design”, but thanks to its rapid expansion and threats from several international competitors, Uber is anything but — the company lost<\/span> <\/a>$2.8 billion (Rs. 18,200 \u00a0crore) last year. Since its founding, it’s burnt through $8 billion.<\/span><\/p>\n

\"uber<\/span><\/p>\n

And perhaps the most interesting slide in the deck is a list of potential outcomes the founders had laid out. The\u00a0worst case scenario the founders laid out involved Uber remaining a niche, 100 client, 10 car luxury car company in San Francisco. The most realistic scenario they thought would involve them getting 5% of the top yearly cities, and earn them $20-30 million in yearly profit. And the best case scenario for the company, in their opinion, involved them \u00a0becoming a market leader with over a billion dollars in yearly revenue.<\/span><\/p>\n

Given how Uber earned $6.5 billion dollars in revenue last year, they seem to have done alright.<\/span><\/p>\n

 <\/p>\n

\"uber<\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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