Former Uber CEO Travis Kalanick is resigning from the board of directors, cutting off ties to the ride-hailing company that he co-founded a decade ago and ran until a series of scandals contributed to his downfall. The departure, declared Tuesday, did not come as a shock. Kalanick recently sold over $2.5 billion worth of stock […]
Travis Kalanick
Uber former CEO Kalanick selling almost a third of stake for $1.4 billion
Uber Inc’s co-founder Travis Kalanick, who was ousted as CEO in June, is selling almost a third of his 10 percent stake in the ride-services company for about $1.4 billion, an individual knowledgeable about the matter stated on Thursday. Kalanick’s sale is part of a deal struck by a consortium led by SoftBank Group which […]
Uber includes option to tip drivers as it looks forward to new direction
Uber is allowing guests to tip its U.S. motorists with a tap on its ride-hailing app for the very first time, part of a push to modify itself as a business with a conscience and a heart. Apart from the built-in tipping alternative announced Tuesday, Uber is providing drivers a chance to make more cash […]
Uber looks forward to repair ties with regulators
Uber is working to mend its relationship with regulators as pressure increases for the company to enhance its business practices. Uber on Wednesday acquired the required permit to put its self-driving vehicles back on California streets, acknowledging the state’s rules after a battle with regulators in December and refusal to apply for the $150 permit. […]
Uber used secret tool to evade officials
Uber Technologies Inc, for years has used a secret tool to prevent officials in markets where its service faced resistance by law enforcement or was prohibited, the company confirmed on Friday. The the existence of the program, called Greyball, which uses information from the Uber app and other techniques to identify and circumvent officials who […]
Uber CEO Travis Kalanick quits Donald Trump’s business advisory group
Uber CEO Travis Kalanick gave up President Donald Trump’s service advisory group on Thursday amid increasing pressure from activists and staff members who oppose the administration’s immigration policies. Critics consisted of Uber drivers, a number of whom are immigrants themselves. “Joining the group was not suggested to be a recommendation of the president or his […]
Uber signs a deal with Daimler to add self-driving Mercedes-Benz
Uber Technologies has signed a deal with automaker Daimler to deploy self-driving cars in its ride-hailing network. They announced this partnership with Germany’s Daimler, the manufacturer of luxury Mercedes-Benz cars and trucks on Tuesday. As Daimler planned to incorporate its own self-driving Mercedes Benz into Uber fleet network, this deal has evolved. The key business […]
Uber hires Google search veteran Amit Singhal for senior engineering post
Uber has hired the person behind Google search, Amit Singhal, to work with CEO Travis Kalanick and help advance the company’s self-driving automobile program. Amit Singhal revealed on his blog on Friday that he will join with Uber after 15 years at Alphabet Inc, where he led Google’s search department. Singhal will take the post […]
Lyft says self-driving cars won’t replace job of driver
Think of hailing a Lyft car through the app and a driverless vehicle pertains to choose you up. Now imagine it chooses another guest, then a 3rd, all of them complete strangers. That might be the future of ride-hailing and carpooling, but that’s a future Lyft is still a bit uncertain about. “When [self-driving vehicle […]
Uber lost $1.3 billion during first half of 2016
Silicon Valley’s a highly valuable startup is struggling to make a profit. Uber lost $1.3 billion in the very first half of the year, as per a Bloomberg report citing unnamed sources privy to a conference call with investors of the privately held ride-hailing service. Uber has raised $16 billion for its quick expansion to […]
Uber acquires autonomous truck startup Otto
Uber is acquiring Otto, a startup that’s been working on developing self-driving trucks for an undisclosed sum. Its co-founder, Anthony Levandowski, is a former Googler who is working on self-driving for years. He’ll direct Uber’s whole self-driving department– both Otto’s self-driving truck efforts and Uber’s own fast-growing autonomous division, reporting straight to Uber CEO Travis […]
