Uber, on-demand economy, get $18.2B vote of confidence

Uber, the hot ride-sharing service that’s inspiring the real estate industry with its on-demand and location-based business model, closed a $1.2 billion funding round this week that brings the firm’s valuation to $18.2 billion.

By utilizing both the geotargeting technology of mobile devices and the untapped inventory of empty cars and car operators with time, Uber’s mobile app has opened a new marketplace by serving both consumers and professional (and not-so-professional) drivers in new ways. Some expect the model will inspire similar breakthroughs in other industries including real estate.

Curb Call, a real estate interpretation of Uber that allows consumers to connect with nearby agents “right now,” launched in May.

Source: Wall Street Journal