Tag: Uber

December 23, 2021

The war for talent between transportation technology companies is heating up, as the incumbents and upstarts poach employees from each other. Filings submitted to the US government by high-profile electric-vehicle, autonomous-vehicle, and ride-hailing companies like Tesla, Waymo, and Uber provide […]

June 18, 2021

In 2014, as Uber was on its way to becoming the world’s most valuable startup. It boasted that drivers in New York City working at least 40 hours per week earned a median income of more than $90,000 per year, […]

November 4, 2020

Uber, Lyft and other app-based ride-hailing and delivery services spent $200 million in a winning bet to circumvent California lawmakers and the courts to preserve their business model by keeping drivers from becoming employees eligible for benefits and job protections. […]

August 7, 2020

Booking Holdings (BKNG) – Booking Holdings lost $10.81 per share for its latest quarter, smaller than the loss of $11.50 predicted by Wall Street analysts. The parent of Priceline, Booking.com, Kayak and other travel services also saw revenue beat estimates, […]

November 25, 2019

Uber shares fell by 6% in premarket trading after global ride-hailing app was stripped of its London license. The company lost its license to operate in England’s capital city on Monday after the transport regulator discovered more than 14,000 journeys […]

November 5, 2019

Goldman Sachs Group Inc., stung by losses in Uber Technologies Inc. and WeWork, has a message for investors in growth stocks: profit matters. After years of pursuing revenue growth at all costs, driven by cheap money, markets are increasingly focusing […]

May 31, 2019

Uber Technologies Inc. shares shot higher in after-hours trading Thursday after executives indicated a price war with Lyft Inc. that was keeping ride-hailing fares low was settling down. Uber UBER, +0.25% reported first-quarter losses of $1.01 billion, or $2.26 a […]

May 8, 2019

Ride-hailing drivers across the world went on strike on Wednesday, ahead of Uber Technologies Inc.’s UBER, +0.00% initial public offering, which is expected to price on Thursday. The drivers are protesting the large payouts that will go to Uber’s founders, […]

April 26, 2019

Uber’s initial public offering will raise upward of $10.3 billion in what would be one of the largest IPOs in history, according to a Securities and Exchange Commission filing published Friday. The ride-hailing giant says it expects to offer 180 […]

March 4, 2019

The financial world must periodically stand agape at the wonder of “technology” companies as they first reveal their results to the public. Lyft, for example, caused much hoopla by being the first of the expected mega-unicorns to file its IPO […]

September 25, 2018

Ride-hailing drivers are growing in numbers. But along the way, they’re also hurting everyone’s earning potential, according to a new study. Between 2013 and 2018, ride-hailing driver income has fallen from an average of $1,500 a month to $762 a […]

September 22, 2017

LONDON — London’s transportation agency dealt a huge blow to Uber on Friday, declining to renew the ride-hailing service’s license to operate in its largest European market. The decision is the latest setback for a company that has upended public […]

August 14, 2017

Uber’s board has voted to move forward on proposals by two investment groups to buy shares in the ride-hailing service and is considering a third offer, with any final decision set to affect who gains the upper hand at the […]

July 24, 2017

After retreating from China and Russia, Uber (UBER) is facing yet another challenge to its global expansion. On Monday, its former Chinese rival Didi Chuxing and Softbank (SBHGF, -3.52%)officially announced that they had invested a further $2 billion in Uber’s largest rival in Southeast Asia: […]

June 1, 2017

Uber has spent billions to upend the transportation industry. Now, at least for the moment, it is burning slightly less cash in that effort. The company said Wednesday that it lost $708 million over the first three months of the […]

March 22, 2017

Uber representatives vowed Tuesday that the company was in the midst of an overhaul, following a pile-up of scandals and shake-ups that have plagued the company for the past several weeks — including allegations of sexism and mismanagement, the departure […]

January 18, 2017

Google has been developing self-driving car technology since 2009, and the company is reportedly planning to launch its own ride-sharing service that could rival Uber and Lyft. Now, a recently published Googlepatent application provides some insight as to how the […]

November 21, 2016

One of Britain’s biggest unions is ratcheting up its war on Uber — calling on HMRC to investigate the company over tax and worker pay. In October, a London tribunal ruled that Uber’s drivers are workers and should be entitled […]

August 26, 2016

Uber called it quits in China earlier this month, selling its operations there to local rival Didi Chuxing rather than continue heavy spending to sustain a price war. “Uber and Didi Chuxing are investing billions of dollars in China and […]

August 1, 2016

Uber put up a good fight in China, but it wasn’t quite enough. The ride-hailing company’s Chinese unit is merging with local rival—and market leader—Didi Chuxing in a $35 billion deal, according to a report from Bloomberg, citing a leaked […]