Good afternoon, Sharks! My name is Travis Kalanick and my new app is going to change the way people get around their cities in over 180 countries around the world. Uber is going to replace half of the taxis and limousine companies in existence overnight.
Kevin O’Leary: I’m sorry, you said your app?
That’s right. It’s an app on your phone and it lets you order a car service from anywhere you are at any time.
Kevin O’Leary: How will you get all the cars and drivers to work for you?
That’s the beauty of it. They won’t work for us. They’ll work for themselves and split the revenues. We’re even going to let random drivers who aren’t professionals operate on our platform!
Barbara Corcoran: Let me see if I understand this. Taxi and limo drivers are going to agree to work for you but not really be considered as working for you? And you think people are going to want to get picked up by unlicensed strangers?
Daymond John: So what you’re saying is you invented a hitchhiking app?
Well, that’s not how I would put it exactly...
Barbara Corcoran: So you’ll be competing with every transportation company in the world?
Yes. And we’ll also be having knock-down, drag-out fights with politicians and lobbying groups in almost every state and city, not to mention the fact that we’ll be responsible for the safety of millions of drivers and passengers everywhere we go.
Kevin O’Leary: What did you say your valuation would be?
We think we’ll be worth $40 billion within our first 36 months.