Aurora Innovation is buying Uber’s autonomous-vehicle unit, Uber ATG. Uber ATG’s reputation has suffered from a fatal crash and reports of internal unrest. Aurora CEO Chris Urmson told Business Insider he’s been impressed with the determination and resilience ATG’s employees have displayed. He spoke highly of ATG’s safety infrastructure, software, computing hardware, and cameras. Are… Continue reading Amazon-backed Aurora is buying Uber’s self-driving unit despite its terrible reputation. Its CEO explains why he sees value in the troubled program. (UBER)
Tag: Uber
Uber sells self-driving unit Uber ATG in deal that will push Aurora’s valuation to $10B
Aurora Innovation, the autonomous vehicle startup backed by Sequoia Capital and Amazon, has reached an agreement with Uber to buy the ride-hailing firm’s self-driving unit in a complex deal that will value the combined company at $10 billion. Aurora is not paying cash for Uber ATG, a company that was valued at $7.25 billion following… Continue reading Uber sells self-driving unit Uber ATG in deal that will push Aurora’s valuation to $10B
Uber: Uber Announces Proposed Private Placement of $1.0 Billion of Convertible Senior Notes
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) today announced that it intends to offer, subject to market conditions and other factors, $1.0 billion principal amount of Convertible Senior Notes due 2025 (the “notes”) in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities… Continue reading Uber: Uber Announces Proposed Private Placement of $1.0 Billion of Convertible Senior Notes
Uber sells ATG self-driving business to Aurora at $4 billion
FILE PHOTO: Uber’s logo is pictured at its office in Bogota, Colombia, December 12, 2019. REUTERS/Luisa Gonzalez (Reuters) – Uber Technologies Inc is selling its autonomous driving unit, Uber Advanced Technologies Group (ATG), to self-driving car startup Aurora, the companies said on Monday, in a move that would accelerate the ride-sharing company’s goal to achieve… Continue reading Uber sells ATG self-driving business to Aurora at $4 billion
Chinese Uber competitor DiDi unveiled a futuristic EV made specifically for ride-sharing — see the D1
DiDi Chuxing has unveiled a custom electric sedan built specifically for ride-shares: the D1. The D1 was built in partnership with electric vehicle maker BYD. The electric vehicle has features like a smart steering wheel, several touchscreens, and artificial intelligence systems. The D1s will be used by drivers across cities in China over the next several… Continue reading Chinese Uber competitor DiDi unveiled a futuristic EV made specifically for ride-sharing — see the D1
Uber in advanced talks to sell air taxi unit Uber Elevate to Joby Aviation
Uber Technologies is in advanced talks to sell its air taxi business, “Uber Elevate”, to aerospace firm Joby Aviation, news website Axios reported on Wednesday, citing sources. Uber did not immediately respond to a Reuters request for comment. Its shares rose over 6% following the news. Hyundai Motor Co, which in January announced a partnership… Continue reading Uber in advanced talks to sell air taxi unit Uber Elevate to Joby Aviation
Uber in advanced talks to sell air taxi unit: Axios
By Reuters Staff 1 Min Read FILE PHOTO: An Uber logo is shown on a rideshare vehicle during a statewide day of action to demand that ride-hailing companies Uber and Lyft follow California law and grant drivers “basic employee rights”, in Los Angeles, California, U.S., August 20, 2020. REUTERS/Mike Blake (Reuters) – Uber Technologies is… Continue reading Uber in advanced talks to sell air taxi unit: Axios
Uber: Uber CFO to Participate in Fireside Chat at 2020 Barclays Global Technology, Media and Telecommunications Conference
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) announced today that Nelson Chai, CFO, will participate in a fireside chat at the 2020 Barclays Global Technology, Media and Telecommunications Conference on Thursday, Dec 10, 2020. Mr. Chai is scheduled to appear at 8:00am ET (5:00am PT). A live webcast of the event will be available on… Continue reading Uber: Uber CFO to Participate in Fireside Chat at 2020 Barclays Global Technology, Media and Telecommunications Conference
Uber officially completes Postmates acquisition
Uber today announced the official completion of its Postmates acquisition deal, which it announced originally back in July. The all-stock deal, valued at around $2.65 billion at the time of its disclosure, sees Postmates join Uber, while continuing to operate as a separate service with its own branding and front-end – while some backend operations,… Continue reading Uber officially completes Postmates acquisition
Uber: Uber Completes Acquisition of Postmates
SAN FRANCISCO–(BUSINESS WIRE)–Uber Technologies, Inc. (NYSE: UBER) today announced that it has completed the acquisition of Postmates Inc. in an all-stock transaction, and that the two companies have begun the process of integrating U.S. operations. As previously announced, the transaction brings together Uber’s global Mobility and Delivery platform with Postmates’ beloved business in the U.S.… Continue reading Uber: Uber Completes Acquisition of Postmates