Ridesharing app Uber is tapping into the massive business car service market, announcing a plan that allows users to bill their companies directly for the service. With Uber for Business, employers can create an account with the car service, and then subsequently invite employees to join. Managers will then have easy access to an employee's travel information. The company also announced partnerships with American Express and spend management company Concur Solutions. For Uber, this is another big growth opportunity. Uber's smartphone app allows users to order cars within minutes and is now available in more than 130 cities. Uber CEO Travis Kalanick says revenue is doubling every six months. But all that growth has come at a cost: Uber is facing resistance from state regulators who want Uber drivers to adhere to the same rules and regulations for traditional taxi and limo drivers. And Uber is also facing competition from similar rideshare services such as Lyft.
- Josh Lipton and Mark Berniker, CNBC
First published July 29 2014, 7:27 AM