Ride-hailing service Bolt stated on Tuesday it has raised 100 million euros ($109 million) from London-based investment company Naya Capital Management in a deal valuing the European competitor of Uber at 1.7 billion euros ($1.87 billion). Bolt stated the funding would permit it to grab market share in a sector harmed by COVID-19, as lockdowns […]
Uber Inc
Uber delivers free Passover meals to Holocaust survivors amid coronavirus
Uber Inc has been delivering free Passover meals to the survivors of Holocaust as people continue to face difficulties in this time. The spread of coronavirus pandemic is preventing many families from seeing each other, and even during religious holidays like Passover, which started on Wednesday. A nonprofit is making sure the most vulnerable individuals who can’t […]
Uber partners Indian NHA to provide transport to COVID-19 healthcare workers
Ride-hailing platform Uber has partnered with the National Health Authority (NHA) to provide transport service to frontline healthcare workers in India, who are engaged in the treatment of COVID-19 patients. Uber will initially facilitate the provision of 150 cars at zero cost to support medical facilities located in New Delhi, Noida, Ghaziabad, Kanpur, Lucknow, Prayagraj and Patna through its […]
Uber brought in $4.1 billion in revenue but lost money in food delivery, driverless cars
Uber continues to lose money as it broadens its food delivery business and continues to work on driverless cars. But revenue for its rides business almost tripled in the last three months of last year as the company picked up more passengers across the world. That prompted it to say it will make a profit […]
Uber, Postmates takes legal action against California’s new labor law
Uber Inc and on-demand meal delivery service Postmates Inc took legal action on Monday to block a broad new California law aimed at providing wage and benefit protections to people who are independent contractors. The lawsuit submitted in U.S. court in Los Angeles argues that the regulation set to take effect Wednesday breaches federal and […]
Former Uber CEO Travis Kalanick to resign from Uber board
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 […]
Uber to pay $4.4 million to end federal sex harassment investigation
Uber Technologies Inc. is going to pay a $4.4 million to settle a federal investigation into accusations that the San Francisco company permitted a rampant culture of sexual harassment, the U.S. Equal Employment Opportunity Commission declared Wednesday. The agreement finishes an investigation started in 2017 in which the commission found reasonable cause to consider that […]
Drivers of Uber, Lyft protest ahead of public offering
Some drivers for ride-hailing giants Uber and Lyft shut down their apps Wednesday to protest what they refers as declining wages at a time when both companies are raking in billions from investors. Demonstrations occurred in 10 U.S. cities, including Chicago, Los Angeles, New York, San Francisco and Washington, along with some European places like […]
Daimler, BMW to invest 1 billion euros in venture to compete Uber
Daimler and BMW revealed a joint ride-hailing, parking and electric vehicle charging business on Friday to rival with mobility services offered by Uber and other tech companies. The luxury car companies stated they would invest over 1 billion euros ($1.13 billion) to broaden the joint venture, moving beyond manufacturing and auto sales toward pay-per-minute or […]
With Easy Ride trial, Nissan to rival Uber
Nissan Motor is taking its first steps to becoming an operator of autonomous automobile services, wanting to get into a segment set to be dominated by Uber and other similar companies. While automakers for more than a century have based their business models on specific vehicle ownership, Japan’s No. 2 automaker and its competitors are […]
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 […]
British city of Sheffield lifts suspension on Uber’s license
Sheffield has lifted a suspension on Uber’s operating license after they got the satisfactory answers to concerns about the taxi app’s management, in boost to the company’s British operations. Previously this month, local authorities in Sheffield said Uber’s license had been suspended after it failed to reply to inquiries. Uber stated it had received the […]
Uber submits request to Supreme Court appealing a decision in UK
Uber filed a request to appeal the Supreme Court a decision by a British tribunal which said its drivers should have employees’ rights such as the base pay, the taxi app stated on Friday. Last year, 2 motorists effectively argued at a British employment tribunal that the ride-hailing company exerted significant control over them to […]
Uber loses its licence to operate in London, says it will appeal
Uber stated it would challenge a decision by London’s transport regulator on Friday to remove it of its licence to run from the end of the month. Transport for London said Uber, whose licence ends on September 30, would be permitted to continue to run while the appeals procedure was exhausted. “Transport for London and […]
