The $3.8 billion sale of Swedish automotive tech company Veoneer to Magna International hit a roadblock Thursday after chipmaker Qualcomm submitted a bid for the company for $800 million more. Qualcomm’s $4.6 billion bid, which comes in at $37 per share, has already received approval from the company’s board and would not need a stockholder… Continue reading Qualcomm wants to buy Veoneer for $4.6B, beating Magna’s offer
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Lyft’s $20 per month membership program gets new bike-share benefits and an annual plan
Lyft is boosting its $19.99-per-month Lyft Pink membership program with new bike-share benefits and an annual option that’s cheaper than paying for the service month to month, the company announced Thursday. Lyft Pink’s primary benefit is a 15 percent discount on car rides, but previously, it also offered three free 30-minute bike or scooter rides… Continue reading Lyft’s $20 per month membership program gets new bike-share benefits and an annual plan
Ford, GM, and Stellantis announce joint 40-50% EV sale goal in 2030 – who is going to buy other 50%?
Ford, GM, and Stellantis, also known as the Detroit Big Three, announced today a joint goal for electric vehicles to achieve 40% to 50% of their sales in the US by 2030. Who is going to buy the other 50% of their cars? Over the last year, Ford, GM, and Stellantis (mainly Chrysler, Dodge, Ram,… Continue reading Ford, GM, and Stellantis announce joint 40-50% EV sale goal in 2030 – who is going to buy other 50%?
Bird tests geofencing system to slow scooters in pedestrian-heavy areas
The next time you rent a Bird scooter, don’t try speeding past a school or any other area with a lot of pedestrians. The company has introduced Community Safety Zones, a feature that uses geofencing to cap the speeds of its scooters in certain areas automatically. When traveling through a Community Safety Zone, the company’s… Continue reading Bird tests geofencing system to slow scooters in pedestrian-heavy areas
CX Automation platform Yellow.ai raises $78m Series C from WestBridge Capital, others …
One dollar bill. Photo: Neon Brand/Unsplash Bengaluru- and San Francisco-based Yellow.ai has raised $78.15 million as part of its Series C round led by WestBridge Capital, Sapphire Ventures, and Salesforce Ventures, it said on Wednesday. Existing investor Lightspeed Venture Partners also participated in the round. So far, the startup has secured $102.15 million in external… Continue reading CX Automation platform Yellow.ai raises $78m Series C from WestBridge Capital, others …
Uber CEO calls Massachusetts gig economy ballot measure the ‘right answer’
Uber CEO Dara Khosrowshahi expressed his support Wednesday for a ballot initiative in Massachusetts that would keep gig economy workers classified as independent contractors, fulfilling a promise he made nearly a year ago to push for laws that preserve its business model. “In the state of Massachusetts, we think the right answer is our IC+… Continue reading Uber CEO calls Massachusetts gig economy ballot measure the ‘right answer’
Uber is still losing a lot of money
Uber reported second quarter gross bookings of $21.9 billion, more than double the same period in 2020. Even so, the company posted an adjusted earnings loss of $509 million and a cash burn of $1.28 billion. The company’s CFO said bookings should rise, but losses likely will continue for another quarter. Loading Something is loading.… Continue reading Uber is still losing a lot of money
Uber shares fall despite revenue beat as its core operations continue to lose money
The company reaffirmed Q4 adjusted profit target, swung to positive net income thanks to investments Alex Wilhelm Kirsten Korosec 8 hours Today after the bell U.S. ride-hailing giant Uber reported its second-quarter financial results. The company’s numbers come a day after its domestic rival, Lyft, shared its own Q2 earnings. Notably while Lyft managed to… Continue reading Uber shares fall despite revenue beat as its core operations continue to lose money
Brazilian digital auto marketplace InstaCarro revs up with $23M in funding
InstaCarro, a digital marketplace that connects used car sellers to dealers in Brazil, has raised $23 million in a Series B round of funding. Notably, U.S.-based firms co-led the investment, including J Ventures, FJ Labs and Rise Capital. Spain’s All Iron Ventures and Big Sur also participated in the financing, among others. With the latest… Continue reading Brazilian digital auto marketplace InstaCarro revs up with $23M in funding
Elon Musk ruthlessly cleaned house of any Tesla workers who disagreed or got in his way, a new book says (TSLA)
A new book details numerous instances where Elon Musk appears to “rage-fire” employees. The CEO created an environment where workers who disagreed with him were swiftly ousted, the book says. In the past, Musk has denied allegations that he goes on such firing sprees. Loading Something is loading. Tesla CEO Elon Musk has denied allegations… Continue reading Elon Musk ruthlessly cleaned house of any Tesla workers who disagreed or got in his way, a new book says (TSLA)