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Uber faced several challenges in its goal to become the world's primary transportation marketplace. One of the main challenges was the need for substantial investment to expand its services globally. Additionally, Uber faced regulatory hurdles in many countries and cities where traditional taxi services were well-established. The company also had to deal with issues related to driver compensation and working conditions, which led to protests and legal challenges. Furthermore, Uber had to invest heavily in technology and infrastructure to support its rapidly growing user base.
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Uber was founded in 2009 as UberCab. After some initial investment rounds, 2011 was a crucial year for the growth of Uber. Its ridesharing service first went live in New York in May 2011 before national expansion began in September in Chicago. By December, the company had expanded internationally with its launch in Paris. And by July 2015, Uber was the most valuable startup in the world. But it still wasn't turning a profit: it had bigger goals of becoming the world's primary transportation marketplace, and that would require a lot of investment.
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Use our Timeline Template Collection to visualize and track business processes. Timelines keep projects on track, provide context, and set expectation...
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