SoftBank boss Masayoshi Son steered the group to a record profit, but his derivatives trading fell flat Tomohiro Ohsumi/Getty Images SoftBank’s Vision Fund made a record $8 billion (844 billion yen) profit in the final three months of the year as its bets on Uber and food delivery service DoorDash paid off, its third-quarter earnings… Continue reading SoftBank’s Vision Fund posted a record $8 billion profit in the third quarter as its bets on DoorDash and Uber paid off
Tag: Uber
CA Supreme Court denies lawsuit challenging Prop 22’s constitutionality
The California Supreme Court today shot down the lawsuit filed by a group of rideshare drivers in California and the Service Employees International Union that alleged Proposition 22 violates the state’s constitution. “We are disappointed in the Supreme Court’s decision not to hear our case, but make no mistake: we are not deterred in our… Continue reading CA Supreme Court denies lawsuit challenging Prop 22’s constitutionality
Didi’s group-buying unit mulls raising $4b to boost growth plans
Chinese ride-hailing giant Didi Chuxing’s community business is considering raising $4 billion to boost its growth amid increasing demand for group-buying delivery services, according to people familiar with the matter. Didi, backed by SoftBank Group Corp., is weighing chipping in about $3 billion to Chengxin Youxuan, the people said, asking not to be identified because… Continue reading Didi’s group-buying unit mulls raising $4b to boost growth plans
Uber: Uber Eats Launches Eat Local: A Renewed Commitment to US Local Merchants
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) today announced its Eat Local campaign, renewed efforts to support independent restaurant owners and operators in 2021 as the industry continues to face COVID-related challenges. “We’re here for restaurants at Uber Eats—as we have been since the start of the health crisis,” said Stephane Ficaja, head of Uber… Continue reading Uber: Uber Eats Launches Eat Local: A Renewed Commitment to US Local Merchants
Uber: Uber Joins Road Safety Advocates in Calling for National Vision Zero Commitment
By Kristin Smith, Head of Global Road Safety Policy Nearly 40,000 people lose their lives on our nation’s roadways every year, and traffic crashes are the leading cause of death for people under 25 years old. But it doesn’t have to be this way. Uber is committed to being a strong partner in road safety. That’s… Continue reading Uber: Uber Joins Road Safety Advocates in Calling for National Vision Zero Commitment
Alcohol delivery company Drizly was launched by cofounders in their early 20s right after college. It just sold for $1.1 billion.
If you can get dinner delivered to your door, why not wine? That’s the game plan for Uber Eats now that it is acquiring alcohol-delivery startup Drizly in a cash and stock deal valued at $1.1 billion. It’s a triumphant finish for Drizly and its investors but the road to get there was far from… Continue reading Alcohol delivery company Drizly was launched by cofounders in their early 20s right after college. It just sold for $1.1 billion.
One of Uber’s earliest investors says the billions it spent on self-driving were a ‘waste of money’ (UBER)
Early Uber investor Bill Gurley said the company “burned” billions of dollars on self-driving tech. That money would have been better spend on food delivery, he told journalist Eric Newcomer. Uber’s sold off its self-driving unit in late 2020 as it grappled with a revenue downturn. Visit Business Insider’s homepage for more stories. Uber’s food-delivery… Continue reading One of Uber’s earliest investors says the billions it spent on self-driving were a ‘waste of money’ (UBER)
Commuting platform startup Hip lands $12 million to help companies bring employees back to the office
Nearly a year ago, the spread of COVID-19 ended the daily commute for millions of Americans, an abrupt change that sent the ridesharing industry into a free fall. Hip, which connected commuters with third-party bus and shuttle operators via an app, was just one of the many mobility-as-a-service startups that watched its clientele and revenue… Continue reading Commuting platform startup Hip lands $12 million to help companies bring employees back to the office
Metromile says a website bug let a hacker obtain driver license numbers
Car insurance startup Metromile said it has fixed a security flaw on its website that allowed a hacker to obtain driver license numbers. The San Francisco-based insurance startup disclosed the security breach in its latest 8-K filing with the U.S. Securities and Exchange Commission. Metromile said a bug in the quote form and application process… Continue reading Metromile says a website bug let a hacker obtain driver license numbers
Uber: Uber to Acquire Drizly
SAN FRANCISCO & BOSTON–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) and Drizly today announced that they have reached an agreement for Uber to acquire Drizly for approximately $1.1 billion in stock and cash. Drizly is the leading on-demand alcohol marketplace in the United States, available and designed to be fully compliant with local regulations in more… Continue reading Uber: Uber to Acquire Drizly