Softbank executive suggests Wework should stay private until it can ‘demonstrate cash flow’ October 8, 2019 The tech world has been rocked by a string of disappointing or cancelled IPOs this year, as companies failed to convert huge private valuations into success on public exchanges. One Softbank executive has suggested a novel solution: firms should wait until they can demonstrate suitable levels of cash flow before listing publicly. Asked about the [...]
Uber takes to the skies with $200 JFK helicopter taxis October 3, 2019 Uber customers in New York will soon be able to book helicopter flights to John F. Kennedy (JFK) airport using its app. The Uber Copter – currently available only to Uber premium members – will be offered to all Uber customers from 7 October. Read more: Uber Works app pairs gig economy workers with employers [...]
Uber Works app pairs gig economy workers with employers October 3, 2019 Ride hailing giant Uber has launched an app, Uber Works, to connect temporary workers looking for shifts with businesses trying to fill gaps in their rotas. The app will show workers what shifts are available in certain areas and how much they will be paid for each one, and aims to help businesses that struggle [...]
How Kapten is trying to take Uber’s ride-hailing crown September 23, 2019 Uber has an image problem. The ride-hailing app’s popularity has declined on complaints that its drivers are contributing to congestion and pollution on London’s streets. Uber took a big PR hit last year when Transport for London (TfL) took away its operating licence due to issues with the company’s approach to safety and regulation. The [...]
Uber to raise $750m from debt markets to fund purchase of Emirati rival Careem September 12, 2019 Uber has said it will raise $750m (£608m) of debt to help finance the purchase of rival ride-hailing company Careem, the day after California passed a bill that threatens to undermine the company’s business model. The company said the debt placement would primarily be used to raise money for its pending $3.1bn purchase of Careem. [...]
Uber and Lyft costs set to rise as California passes AB5 gig economy workers bill September 11, 2019 California has passed a controversial bill that means gig economy workers are set to be classified as full-time employees. The move, expected to be signed and passed into law by California governor Gavin Newsom, would pile pressure on companies like Uber and Lyft, which rely on self-employed workers. Read more: How Uber’s quiet cabs are [...]
Uber’s quiet cabs are sapping our social skills August 30, 2019 Uber’s recent move to offer passengers a “quiet preferred” option sparked a lively debate online, with some praising the move and others sharing stories of overly chatty drivers disturbing their journeys. Others bemoaned the change, branding it “dehumanising” for the drivers and “entitled”. Whatever side of the fence you sit on, there’s no denying that [...]
Former Uber driverless guru charged with stealing secrets from Google August 27, 2019 One of Uber’s former star engineers is facing years in prison after he was yesterday charged with stealing secrets from Google. Anthony Levandowski, one of the world’s leading developers of driverless technology, allegedly took information with him when he left the search giant’s Waymo unit. Read more: Car crash: Uber shows record loss in new [...]
Car crash: Uber shows record loss in new results August 8, 2019 Uber disappointed investors yesterday as the ride-hailing app showed its biggest-ever loss, and slowest revenue growth. Second-quarter net loss hit $5.2bn (£4.3bn), widening from $878m, as the company paid up $3.9bn for its May listing. Read more: Lyft off: Ride-hailing app makes inroads as it beats expectations Finance chief Nelson Chai said the company had [...]
Lyft off: Ride-hailing app makes inroads as it beats expectations August 7, 2019 Uber rival Lyft came in ahead of analyst estimates yesterday, and predicted lower losses for the year. Second-quarter revenue hit a record $867.3m (£714.4m), a 72 per cent increase on the same period last year. Read more: Lyft shares tumble after tough week of trading Meanwhile, the ride-hailing company’s net loss hit $644.2m, up significantly [...]
