Uber is a fast-growing transport service dominating the taxi market. Uber drivers are independent contractors. They are connected to passengers by the Uber app to arrange pick-ups. It's a cashless transaction, the user will be billed electronically.
The taxi market is a well entrenched segment of large municipalities. Since Uber isn't regulated by existing taxi services, conflict of interest occurs. The city of Austin, Texas banned Uber and leading competitor Lyft from providing service.
The value of Uber was $50 billion in 2015.