Evidently, the downturn hasn’t soured investors on the travel industry. Travel booking startup Hopper today announced that it closed a $96 million follow-on investment from Capital One, bringing the company’s total raised to $740 million. The fresh cash will be put toward several efforts, CEO and co-founder Frederic Lalonde said in a press release, including… Continue reading Travel app Hopper raises $96M from Capital One to double down on social commerce
Author: Tech Crunch Online News
Yassir pulls in $150M for its super app, led by BOND
Yassir, an African super app platform that offers on-demand services such as ride-hailing, food and grocery delivery, and payments, has raised $150 million in Series B funding, five times what it raised in its previous priced round last November. The investment was led by BOND, the growth-stage firm that Mary Meeker spun out of Kleiner… Continue reading Yassir pulls in $150M for its super app, led by BOND
Trouble brews at Arrival, TuSimple ousts its CEO and Cruise expands in San Francisco
The Station is a weekly newsletter dedicated to all things transportation. Sign up here — just click The Station — to receive the full edition of the newsletter every weekend in your inbox. This is a shorter version of The Station newsletter that is emailed to subscribers. Want all the deals, news roundups and commentary? Subscribe… Continue reading Trouble brews at Arrival, TuSimple ousts its CEO and Cruise expands in San Francisco
Ouster and Velodyne agree to merger, signaling consolidation in lidar industry
Ouster and Velodyne, two lidar companies, have agreed to a merger in an all-stock transaction, the companies said Monday. Both Ouster and Velodyne will maintain a 50% stake in the new company, according to the agreement that was signed on November 4. The merger comes as many in the industry, including autonomous vehicle technology company… Continue reading Ouster and Velodyne agree to merger, signaling consolidation in lidar industry
Uber withdraws petition to annul new ride-hailing regulations in Kenya
Uber has applied to withdraw a petition in Kenya challenging the new ride-hailing regulations that capped commissions at 18%, and required taxi apps operating to acquire licenses. Coulson Harney, the law firm representing Uber, filed the notice of withdrawal, bringing to an end its push to have the new digital ride-hailing regulations annulled. “Take notice… Continue reading Uber withdraws petition to annul new ride-hailing regulations in Kenya
iPhone maker Foxconn and Saudi Arabia are going into the EV business
Saudi Arabia’s sovereign wealth fund has formed a joint venture with Foxconn to build and sell EVs, the latest move by the nation to meet its Vision 2030 goal of reducing its dependence on oil and diversifying its economy. The new company, called Ceer, will design, manufacture and sell a portfolio of EVs using BMW’s… Continue reading iPhone maker Foxconn and Saudi Arabia are going into the EV business
EV-maker Arrival gets delisting warning from Nasdaq
Commercial electric vehicle company Arrival has gotten a warning from the Nasdaq Stock Market because its stock price is trading too low. The company issued a press release Thursday saying it received a notification at the start of the week that it was not in compliance with the Nasdaq’s requirement to trade ordinary shares above… Continue reading EV-maker Arrival gets delisting warning from Nasdaq
Lyft lays off 13% of workforce as it tries to slash operating expenses
Lyft said Thursday it is laying off 13% of its workforce as it tries to reduce operating expenses, according to a securities filing. The ride-hailing company described the cuts as proactive step to ensure it “is set up to accelerate execution and deliver strong business results in Q4 of 2022 and in 2023.” Lyft also… Continue reading Lyft lays off 13% of workforce as it tries to slash operating expenses
Loop lassos ex-Uber talent and money to finally fix freight invoicing
Matt McKinney was a data science manager at Uber, helping launch Uber Freight, along with software engineer Shaosu Liu. One of the main problems the pair saw there was that while they were able to grow the top line, they found it difficult to grow the bottom line because they were “losing a bunch of… Continue reading Loop lassos ex-Uber talent and money to finally fix freight invoicing
India metro smart cards vulnerable to ‘free top-up’ bug
A smart card bug lets anyone ride the metro for free Jagmeet Singh 14 hours India’s mass rapid transit systems — or metro, as it’s known locally — rely on commuter smart cards that are vulnerable to exploitation and allow anyone to effectively travel for free. Security researcher Nikhil Kumar Singh discovered a bug impacting… Continue reading India metro smart cards vulnerable to ‘free top-up’ bug